Answer / lgovindarao

WCT means works contract tax. This is tax collected by
state sales tax autorites. whenever there is mix of
materials and labour involved in a contract. Then we should
pay certain amout of tax on material poration.

Answer / dilbag singh

5 lacs one year / one time

Answer / atul nema

WCT means Works Contracts Tax and it has the same limit as
prescribed under VAT for Sale of Goods i,e; Rs.5 lacs.

Look, WCT as a whole is not taxable in the eyes of any law.
VAT can only be imposed on the transfer of Propoerty in
execution of works contracts. and dealer can get deduction
of labour utilised in executionof works contrats.

Answer / sonu kumar

Work contract tax is the type of Value added tax. WCT is applicable where contract is taken under BOQ and Some material is Used under it. its exemption limit is of 5 Lakh.
in this section calculating vat is as under:

Contracted Revenue ---------
Less- 1. Store Consumable Used
2. Labour Charges (Sub contractor)
3.Labour Welfare expenses
4. wages of Labour
5. profit proportion to the labour
6. Mess Expenses
7. Medical expenses
after deducting these expenses we gets taxable value on which we have to pay sales tax.
and after that we divide taxable revenue in proportion to construction material used i.e. 5% and 13.5%.
and after that multiply propersonate contracted revenue to the tax rate and got tax liability.

Answer / jayant m basutkar

Please explain whether WCT on manufacture of Uniform made
from Cotton Fabrics is applicable or not?

How we calculate TDS on Salary, They are taken net salary either Gross salary

3 Answers  

compute income tax for the nett income of Rs 325560 In case of Individual Resident women Senior citizen Firm add education cess on the tax

1 Answers  

statutary compliances?

3 Answers   Genpact,

Goods sold outside the state at rs 300000 excluding 2percent CST I want solution with journal entry

2 Answers  

While I prepare Form JJ for goods transfer I made a mistake that the value of goods is morethan the actual value(i.e. instead of Rs.92100/- I filed Rs.1354000/-)and the copy of JJ sheet is sealed in the checkpost one copy is taken in the checkpost. please anybody give me the exact solution. thanks

0 Answers  

we have received " c" form against full rate of tax i.e 12.5% from the customers can we summiting in sales tax department for taken a refond as consisnal rate i.e 2% sale against "c" form , but party hasebeen mantion on the back side of from all value inclusive of taxes i.e full rate of tax can we utilised this form for consosnal rate ?

1 Answers  

I have the Total amount of 235242. 235242 is included (ST+ED+SED) 10.30%+ Basic of Sales. what is Basic Value???

2 Answers  

what is cess?

1 Answers  

how to reconccile account payable & account receivable.please provide best solution with example

1 Answers  

What do you mean by Capital Asset?

1 Answers  

how to calculate vat?

2 Answers   Jaypee, Maruti Suzuki,

Can we deduct WCT TDS on Interstate WORKS CONTRACT , Example, Contractor is in Banglore, he has completed work in Mahrashtra which involved Civil work, Furnitures, fixtures & labour etc, Contractor has raised invoice on service receiver adding 13.50% full CST +4.12% Service charges on Total invoice amount, kindly clarify whether Service receiver is eligible to deduct WCT TDS in Maharashtra on invoice value of the contractor, if yes at what rate ?

2 Answers   Quest,