On  Sale of Goods, Vat is Applicable

On  Sale of Services, Service Tax is Applicable

There are some services which are in nature of both goods and services,

These are called Works Contract

Tax on Work Contract are called Work Contract Tax (WCT)

 

Example :-

In Construction Contract, a builder constructs a building

Is it a Goods or Service?

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Is WCT a Separate Act?

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Are rules of Work Contract same all over India

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  1. Tax Practical
  2. Practical WCT (Work Contract Tax)
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CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .