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Tax Practical
Practical WCT (Work Contract Tax)

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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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.