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What is Works Contract Tax?

5980 views 2 replies

CA Tushar Singhania

Asst. Manager Accts & Fin.

402 Points Posted on 07 June 2011

I would like to know what exactly is WCT

Is it a diffrent name for VAT or is it a diffrent form of tax. If it is a diffrent type of tax then can anyone please tell me the provisions in short, as in where is it applicable? what are the tax rates in west bengal.

Thanking You

Tushar Singhania

Replies (2)

SUDHIR & PRADEEP JI

CA FINAL+LLB + DISA

2299 Points Posted on 07 June 2011

WCT is not any special type of tax nor it is aany new way of taxation..

it is only the a form of VAT..

u can treat it as same as TDS of income tax..

in this case WCT is been deducted by the Contratee (i.e. the payment mader) on behalf of contartor.

& depsoited in credit of state government after then the conatrator has to file its return & Claim its refund or depsoited it extra tax........

CA. ANKUR JAIN

CA.....

2800 Points Posted on 07 June 2011

Originally posted by : PRADEEP & SUDHIR JI
	WCT is not any special type of tax nor it is aany new way of taxation.. it is only the a form of VAT.. u can treat it as same as TDS of income tax.. in this case WCT is been deducted by the Contratee (i.e. the payment mader) on behalf of contartor. & depsoited in credit of state government after then the conatrator has to file its return & Claim its refund or depsoited it extra tax........