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TMI BlogWorks Contract TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, Please let me know the WCT% in case works contract in various situations. In this Labor cess also need to be considered?. Regards Srinivas - Reply By MARIAPPAN GOVINDARAJAN - The Reply = For which State it is required? - Reply By Ganeshan Kalyani - The Reply = SERVICE TAX : If you are a service provider under works contract service, and you are an individual, firm , HUF and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the recipient is a body corporate then you have to charge half of service tax @15% on 40% of Value of service in case of original works and on 70% of value of service in case of other than original works. VAT : Regarding material portion involved in the works contract then applicable VAT shall be charged on invoice. VAT- TDS (WCT): the works contract tax is a tax to be deducted by the rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipient of service from the payment to be made to contractor . A certificate is then issued by the service recipient to the contractor after making payment of the tax so deducted , based in which the contractor shall tax credit against output VAT payable. - Reply By Ganeshan Kalyani - The Reply = Labour Cess need to be paid by the contractors. If contractor does not pay it then the owner (Servic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e receiver ) shall pay the tax. - Reply By Srivatsan Krishnamachari - The Reply = Thanks for replies. This is supply from Telangana to AP. Regards Srinivas - Reply By Ganeshan Kalyani - The Reply = In case of interstate works contract service being provided then in my view 'works contract tax ' is not applicable. - Works Contract Tax - Query Started By: - Srivatsan Krishnamachari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 29-9-2016 Other Topics - Got 5 Replies - Indian Laws - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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