Can we claim WCT Amount as a sett-off / Credit while calculating Our SALES TAX LIABILITY ????
Pl help us !!!! 1 of our client deducted WCT @ 2% Which is correct !!! now question is whether, Can we take the sett-off of this against payment of sales tax liability ?????????
PLEASE REPLY !!!!
Yes... if any of Your Client Deducting Wct they will Issue C-II Certificate on Quarterly Basis and You can Claim it as a Input Credit.... it is Just Like TDS on Income.
Wct Rate is 4% in Bihar
Thanks
| Originally posted by : Sonu Kumar | ||
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Yes... if any of Your Client Deducting Wct they will Issue C-II Certificate on Quarterly Basis and You can Claim it as a Input Credit.... it is Just Like TDS on Income. Wct Rate is 4% in Bihar Thanks |
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Thanks for the reply !!!!!!!
Yes our client has deducted WCT @ 2% In Maharashtra. Do You have any notification /Circular / Rule copy please.................. i'll need to send it to our Auditor !!! Please do help if you can provide !!!!!!!!!!!!!!!!!!! pl..
It Should be Written on LOA Copy.... you May Produce it to Auditor
Thanks
CAclubindia
