When VAT 14.5% is applicable and when Work contract tax 4%
is applicable? Is both are same?
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
VAT is applicable on sale of products/goods. Whereas, Works
Contract Tax (WCT) is applicable on execution of Works
Contracts, like construction of buildings, etc. Applicable
tax rates are as per the relevant schedules to the relevant
law in the country/state.
Is This Answer Correct ? | 37 Yes | 3 No |
Answer / satpal nalavade
Vat is applicable for sale of products or goods. WCT is
applicable on execution of building material or other
construction workds like road, builing, dam construction.
applicable tax rate is depend upon related product tax
schedule.
Is This Answer Correct ? | 26 Yes | 6 No |
What is VAT TDS? when it is applied & at what rate?
I am Register dealer in Karnataka. One of another register dealer of karnataka has got job work at Andhra Pradesh. They asked us to deliver the material in Andhra pradesh but the invoice should be in Karnataka only. Now my question is what type of sales tax should we charges VAT / CST? As per my best knowledge whether we raised the invoice in Karnataka the invoice will raise in VAT though we deliver the material at Andhra Pradesh.
depreciation on computers
Explain the Calculation of Sales Tax?
0 Answers Cognizant, Petron ltd,
What should be the TDS Deduction for technical consultancy received from Malta to an Indian Company
how to file returne?
What is E1 form for purchase & what benefites
What is the accounting entry to be posted for TDS if the assess is Firm (or) Company (or) Proprietorship (or) Individual? eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (What entry should i pass in "CDE & Co" and "ABC & Co")
When calculating tds on a service bill ,TDS need to be calclated on "Base Amount" or "Base Amount"+ "Service tax" ? please answer with relevant provision
8 Answers Market Insight, NetTantra Technologies, Simoco,
IF WE PURCHASE MATERIAL FROM OUTSIDE STATE FOR RS 100000 (INCLUDING CST) AGAINST C FORM. AND AFTER ONE MONTH WE ISSUED DEBIT NOTE FOR RS. 30,000 /- TO A SELLER. NOW WHAT AMOUNT WE FILL IN THE C FORM AT THE TIME OF ISSUE, 1,00,000 /- OR 70,000 /-
please provide to us the rules of wct in andhra pradesh (Hyderabad)
what is sale entry, purchase entry, credit note , debit note entry?
5 Answers Aquasol, TCS, Wipro,