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wct rate all over india state wise
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Answer / ca.pradeep jain
There are three option to pay WCT ie. A 1 option, A 2
option, B option; these option depend upon the
credit/setoff availability.
A-1 Option (Levy of VAT on Works Contracts in the hands of
the Contractor)
Under the legal option A-1, the VAT is payable on the
`Material Value’ of the Contract. The deductions are
available for arriving at the Material Value from the total
contract price.The 4% or 12.5% VAT would be applicable on
such Material Value /Price, depending upon the
classification of such materials (Steel 4%, others 12.5%
VAT) in which the property passes to the contractee .
option A-2, the VAT is payable on the `Material Value’ of
the Contract. The Material value is calculated after
deducting the `Labour Portion’ from the total contract
value / Price.
However, in this option a table is available in the State
VAT Act / Rules which shows `Standard Labour portion’
attributed to the various works contracts. The Contractor
has to deduct such `Standard Labour portion’ shown in such
tables from the total Contract price to arrive at the
`Material value’. The Contractor would charge 12.5% VAT, on
such material value. Each State has provided the said
`Standard Labour’ table , under this option. (Like in
Maharashtra for Civil Works it is 30%, for Plant &
Machinery 15% , for AMCs 40% and for others 25%
(Residuary)) .
Option B is the “Composition Tax” option. This is a non
legal alternative option, simplier option for those
Contractors who cannot maintain the proper Accounts, Record
of the material and other portion in their contracts. The
contractee / customer prefers this option as small amount
of Composition Tax 2% / 4% is payable to the Contractor
instead of 12.5% VAT payable in legal options. A-1 and A-
2 . However , VAT credit/set off is not be available to
them in this option ( in this option , VAT Credit is
available only in the state of Maharashtra ) .
CA Pradeep jain
| Is This Answer Correct ? | 53 Yes | 11 No |
Answer / pravin sandish
anybody can tell me rate of work contract tax (WCT-TDS)
deducted state wise.
| Is This Answer Correct ? | 54 Yes | 16 No |
Answer / ankur agarwal
Something Around 4% or 12% As depend upon the Classification of Materials.
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / sunil kumar
what is the wct rate in tamil nadu and minimum contract
value from which wct deduct
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / pradip bhunia
What is the rate of WCT in A.P. regular case for construction of Cement Plant and client also issue steel & cement on free of cost?
| Is This Answer Correct ? | 8 Yes | 1 No |
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