what is wct? what is it applied ?
Answers were Sorted based on User's Feedback
Answer / nichit pandurang
WCT means Works Contact Act
WCT is applied in case of any vendor suppling material or
labour on behalf of contractor on that time WCT will
deductable
Is This Answer Correct ? | 20 Yes | 5 No |
Answer / sagar
WCT depends upon state by state. its a flat rate at which no
input credit on any material purchased is given to you
(since on VAT credit of Input can be claimed and net amt is
deposited to govt). you have to pay a flat rate of 2 % on
turnover(ie, contract amount) to government or ur contractee
will deduct WCT while making payment to u. you (the
contractor) can claim WCT as ur direct expense.
Is This Answer Correct ? | 9 Yes | 7 No |
Answer / shatrudhan sinhg
WCT means Works Contact Tax
WCT is applied in case of any vendor supping material or
labour on behalf of contractor on that time WCT Tax Applicable
Is This Answer Correct ? | 0 Yes | 0 No |
How to calculate basic price, whether excise duty is 14.42, cess 2%,education tax 1%
I had purchased a plot in Nov. 2002 for Rs 18lacs and spent about 20Lacs on its construction. Property is jointly owned by me with my husband in the ratio of 1/3:2/3. I am selling this property for 3cr. How much capital gain I/we have to pay? And can it be set off by purchasing new residential property? If so, can we purchase two separate residential properties, one in my name and one in the name of my husband, which could cover the capital gain amount. Can we do so or it is only purchase of one residential property against which capital gain can be set off. Please clarify.....
What is the full form of TDS & TCS
30 Answers CMC, TCS, Vinraj Steels,
plz tell what is current rate of depriciation as per income tax .
on earth moving road work which type of tax is applicable?
How to calculate excise duty on mobile products?
IF WE PAY AUDITOR FEE FOR INCORPORATION WORK THEN UNDER WHAT GROUP IT COMES IN TALLY. 2. any other audit fee we paid suppose at the time of financal report preparing then it will comes at the same group or any other
We made full payment to contractor and forget to deduct TDS on that.Now contractor ledger is fully settled and we have to pass the TDS entries on that. Kindly guide rectify the entries on tds
In income tax which statement have 4 limit ?
ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes
During the financial year if i had made CST purchase in may 2011 Rs.200000/-, in july 2011 Rs.150000/-, in august 2011 Rs.100000/- so for the above transaction i have to obtain three C forms for each transactions now let me clear that by providing relevent details to the Tax department when they will provide me the c forms for the above transactions?
Please some one tell me what is the VAT or WCT rate for works contract at Tripura