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When VAT 14.5% is applicable and when Work contract tax 4%
is applicable? Is both are same?
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Answer Posted / 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 |
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