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TMI Blogwork contract taxX X X X Extracts X X X X X X X X Extracts X X X X ..... work contract tax X X X X Extracts X X X X X X X X Extracts X X X X ..... our component and material component separately won't absolve you from the liability under the provisions of WCT. If you are not maintaining the separate records then either you can avail the abatement or you can go for composition scheme under the works contract. The contractee is also under statutory obligation to deduct the TDS on WCT and to issue a certificate in this regard to the contrac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor on the Gross Value of the Contract. At the time of your assessment you would have to produce such certificate to the assessing authority. Regards, YAGAY and SUN (Management, Business and Indirect Tax Consultants) Reply By Ganeshan Kalyani: The Reply: Works contract Tax which is also called as VAT-TDS is required to be deducted by the receiver of service from the payment to be made to the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovider of works contract service. The deductor is required to deposit the amount so collected to the exchequer. the deductor shall issue a certificate to the service provider who inturn can claim the benefit by showing as tax already paid in the Vat return. The provision of VAT-TDS or WCT varies from state to state. In some state it is applicable and in some not. VAT is a state subject. Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DEEPAK GAGRANI: The Reply: Dear Sir I want to escalate this problem. can we deduct TDS/WCT on inter state transaction. Reply By Ganeshan Kalyani: The Reply: As I said VAT is a state subject it differs from state to state and therfore if you can write down which state you are referring to we can comment with reply. Reply By DEEPAK GAGRANI: The Reply: Dear Ganeshan Sir My company is situated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Daman & Diu & most of contractor belong to gujrat & maharasthra.
Reply By YAGAY AND SUN:
The Reply:
Dear Deepak,
There is no provision under CST Act, 1956 regarding deduction of TDS on interstate works contract.
Regards,
YAGAY and SUN
(Management, Business and Indirect Tax Consultants) X X X X Extracts X X X X X X X X Extracts X X X X
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