WCT - Maharashtra VAT

Mahavat 3533 views 3 replies

Vyankatesh Sabale

audit assistant

25 Points Joined July 2010

Respected Sir,

i am an accountant working with a limited company in Pune. Company's canteen contractor given the biil for Rs. 3,04,292 on which he lavied vat @ 12.5% Rs. 38,036 and Service Tax of Rs. 15,671. A Total bill of Rs. 3,58,000/- and our auditor says deduct the 1% TDS under contract and also 2 % TDS on WCT

Whether the same is correct under the current provisions of the various acts ?

Kindly guide in the matter

Thank You....

Replies (3)

Rajesh

C.A.

38 Points Joined January 2011

yes

the same is Correct

as per inocme tax Tds is applicable @ 1% incase of individual other wise 2%

As per Vat Rule WCT should be deducted @ 2% incase of registed other wise 4%

yashsr

2285 Points Joined April 2011

Originally posted by : Vyankatesh Sabale
	Respected Sir, i am an accountant working with a limited company in Pune. Company's canteen contractor given the biil for Rs. 3,04,292 on which he lavied vat @ 12.5% Rs. 38,036 and Service Tax of Rs. 15,671. A Total bill of Rs. 3,58,000/- and our auditor says deduct the 1% TDS under contract and also 2 % TDS on WCT Whether the same is correct under the current provisions of the various acts ? Kindly guide in the matter Thank You....