In a WCT contract, where both material & labour are identifiable,
1)Is the below billing correct?
Material 200000
Mvat @ 4% 8000
Labour services 100000
Service tax 10300
total 318300 Is this billing correct?
2) While releasing the payment on which amount WCT TDS is to be deducted? on 110300 or on 318300?
thanks.
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Wct issue
Replies (1)
TDS should be deducted on the amount realizable from the customer.So i think,TDS should be deducted on the entire amount:-Rs.3,18,300
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