Work Contract Tax

what is the dif of wct

I am a cotractor for electrical works in Central Govt. deptt.(Karnataka State).I pay VAT on purchase of material.Deptt. is also deductins 4 % WCT on my bills while making payment.Whether I can get refund from S Tax deppt. against VAT paid by me.How much I will get refund in such case.

I am a cotractor for electrical works in Central Govt. deptt.(Karnataka State).I pay VAT on purchase of material.Deptt. is also deductins 4 % WCT on my bills while making payment.Whether I can get refund from S Tax deppt. against VAT paid by me.How much I will get refund in such case.

I want to know about WCT & TDS RATE ON CONTRACTOR & SUB CONTRACTOR.

WHAT IS THE RATE OF TDS ?

WHAT IS THE RATE OF WCT ?

WHAT IS TURNOVER LIMIT ?

sir,

i want to know the rate of works contrct tax (WCT) in bhopal.

if my nature of business is making building can i deduct tds on supose charges Material Value 5000 & Service tax on 2%

Plese send information about works contract tax

hi jagan

as information given by u, in case of ur client the wct payable to the contractor is 12.5% on the contract price less the deduction allowed under the rule 58 of maharahtra value added rules. in case where the dealer has not maintained the books to enable the proper value of deduction then 30% is allowed as ad-hoc deduction in case of construction of buildings. further if materials are supplied by u and contractor will be doing the labour work than no wct is payable as wct is on transfer of property in goods and not on labour

my question is ...........

what is excise?

what is the rules for the manufacturer of excise?

how to calculate excise ?

who comes in the range of the excise ?

rate % of the excise?

i hope you will give me satisfying answer.

best regard

sanjay singh chundawat

The tax thus deduted could be set off against your output tax liability.

WCT deducted canbe considered as input credit and accordingly available for adjustment against output tax liability.

Sir

Please give me the details of WCT in UP and a list of WCT items covered in UPVAT.

if i purchase an equipment for running on hiring,is it a wct item to be deducted TDS @ 4%???

Regards

Niyaz Khan

Dear Niyaz,

Let us understand what the term 'Works Contract' means.In simple sense it is a contract awarded to a contractor by someone to execute certain work which may involve both materials and labour and you can have more details information fromthe relevant state's VAT Act. It is not the items but the nature of contracts like civil,electrical , etc..

Purchase of equipment is not covered under WCT. It is a fixed Asset and if you hire it out it is taxable under the head ' right to use ' under VAT.