Answer Posted / atul nema

WCT means Works Contract Tax. When property of goods
transferred in execution of works contract with the help of
labour and service components, it falls under the catagory
of WCT.

Like Builing construction, Road, Dam, Power Station,
manufecturing of shirts and so on.

As u know government has intention/power to levy tax on
Sale of goods only. and In order to comply this
constitutional requirement what ever labour/service portion
invovled in contact shall be deducted to arrive at the
taxable turnover of WCT.

As no stete clearly narrated the methology of determination
of taxable turnover but with the help of various legal
pronouncements Determination of taxable turnover under WCT
becomes easy.

WCT is calculated only on the material involved in the
contract.
Without going into deep in the matter following dedctions
are as follws:
1. Labour charges, Services charges
2. Machine hire charges being utilised in execution of WCT
3. Consumables Cost
4. Amount paid to sub-contactors
5. labour establishments charges with profit elements in
labour and service element

Basically Taxable value

How can I Proceed to my client regarding Advertisement Bill as we are dealing in advertising agency and also clear us can we deduct TDS on their bill? For Example we receive a bill from The Sandesh Ltd. of Rs. 50000/- and they do not mention service tax in the bill. So, Kindly provide the Guidelines regarding This Problem.

2064

---

what is the difference between vat return and return for remittance on value added tax.

2777

---

How to make a bill of software sale with service tax?

2280

---

Rules for filling Income Tax return for a domestic manufacturing company.

2494

---

We are Interior Decorators in Chennai,Tamilnadu. I would like to know the vat applicable for us 14.5% or 5%. We supply the material and do the works at the sites itself.

2613

---

if i have a educational loan on my name, can i show for tax exemption on current year income tax? Is it applicable for tax exemption (educational loan)

2179

---

How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?

2055

---

if any civil contractor provide service to education institute, then there is an exemption for service tax liability, and he should be quoted it on its invoice, can u provide me sample invoice formats

2207

---

what is service tax? how its count? and why its count?

2003

---

cst rates

1951

---

Any body tell me about VAT (Karnataka)shortly because, iam reading vat book but iam not able to understand that. if any body tell me shortly about karnataka vat, retursn, tax collectng, tax payment, CENVAT utilizing etc. pleseeeeee

2633

---

what is highseas purchase and sales? how is custom duty calculated? what are the criteria for a person dealing in shares comes under tax audit? whether all equity oriented fund are eligble for stt?

5639

---

we are the manufacture of leather shoes, we send the shoe sample to some parties , can it we shown in RG1 Register , if shown then , where ? if not then why ?

3814

---

How to file the CST return and which form is use.

1779

---

what is deemed sales? how to calculated

2335

---