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 .
  • Daylyn Patel's image

    Is work Contract Tax applicable under GST or else is it used in 2017-18 or will be used in 2018-19

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  • Prashant Patil's image
    Prashant Patil
    Aug. 8, 2017, 2:14 p.m.
    Dear Sir,  can you please help us for latest GST Act in practical Corporate finance
     Kindly Tell us , How GST records maintains? 

    How TDS charge on GST ?
    View answer
  • Arvind Aggarwal's image
    Arvind Aggarwal
    Jan. 16, 2017, 5:20 p.m.

    Hello Sir,

    Would request you to please provide a complete example on WCT i.e. 1. Service Tax Treatment and the amount on which it should be deducted 2. TDS -IT & TDS-VAT treatment and the amount on which it should be deducted 3. VAT (Input & Output)

     

    Thank you for your help sir !

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