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What is WCT? On Which it is calculated?
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Answer Posted / amandeep singh
1.WCT(Work Contrat Tax)is a kind of sale tax i.e,
2.if work Contractor gives contract to contractee to done
the work or Job on the Material like( eg. contractor has a
land and he wants to make a building on the land, due to
this contractor sign a contract with contractee to
construct building),
3.In the contious Example, contractee will construct
building with the help of (labour and material) and after
construction contractee will transfer building to
contractor ,
4.This transaction would become a sale for material and
service for labour charges. and on the part of sale
contractee will deduct sale tax (that means to say Work
Contract Tax).
5.WCT rate is differ to state to state due to there is a
different Sale Tax act in every state.
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