Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...


What is WCT? On Which it is calculated?pleasegive any
example.



What is WCT? On Which it is calculated?pleasegive any example...

Answer / rawm laxhmi

WCT- Works Contract Tax
Whenever any activity is undertaken under a contract for
working upon any goods; it can be liable to tax
under "Works Contract Act" which is leviable by the Sales
Tax/VAT department of the State Government

Work contract tax is almost like sales tax which is levied
in the process of sale or activity or project, where there
is an involvement or which include goods or material. That
is, if a project right from the commencement to till the
end, involves any goods, then it is liable for the WCT.
Suppose, a company has given a project to a vendor to
construct the wood work of a particular office area. Then
the project includes goods like wood, paint and other
accessories etc. which is liable for WCT. Usually,
engineering projects are not liable for WCT.

Is This Answer Correct ?    7 Yes 4 No

Post New Answer

More Taxation Interview Questions

Define deferred tax liability?

0 Answers  


There is a Service Bill of Rs.50,000 & Service Tax added 10.30% & We have to deduct TDS @ 2%. Assume that Service Tax Input Credit available to Ur Co. What is the Journal Entry for this?

23 Answers   A Cube Solutions, HCL, Motorola,


calculation of Tds on subcontractor

0 Answers  


Assume in a company during the financial year 8 computers has been sold for Rs 68000/- . whether TDS on Income should be deducted from the payment or what?

2 Answers  


what is prosses of vat refund

1 Answers   Chartered Accountant, Unique Rubber Industries,


(1) what is TDS (2) what is the current Rate of TDS: (A) payment of contarctor/subcontractor (b) payment of professional charges (c) payment of rent (d) salary

6 Answers  


Any one can mail soft copy of Balance sheet,Trading and profit and loss alc.of a small firm or small co for study

0 Answers  


HOW TO MAKE BALANCE SHEET OF PROPRIETOR? IF THERE ARE ANY OTHER INVESTMENT OF PROPRIETOR LIKE FLAT,GOLD,SILVER THEN WHAT WILL BE THE CAPITAL OF PROPRITOR IN HIS PERSONAL BALANCE SHEET? WILL THE CAPITAL OF HIS FIRM WILL BE THE CAPITAL OF HIS PERSONAL BALANCE SHEET? FOR EXAMPLE IN HIS FIRM CAPITAL A/C IS 39LAC.BUT IN HIS OTHER INVESTENT(WHICH HAS NOT BEEN SHOWN IN HIS FIRM'S BALANCE SHEET) HE HAS FLAT OF 310000, GOLD OF RS.15LAC AND SILVER OF RS.3LAC THEN WHAT WOULD BE HIS PERSONAL BALANCE SHEET? PLS ANSWER ME.

3 Answers   Reliance, Vodafone,


what is tax?

4 Answers  


How to calculate Excise duty in manufacturing secoter.

3 Answers  


what are the tax exempted allowances?

2 Answers  


what are indirect taxes

2 Answers  


Categories