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When VAT 14.5% is applicable and when Work contract tax 4%
is applicable? Is both are same?
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Answer / h.r. sreepada bhagi
VAT is applicable on sale of products/goods. Whereas, Works
Contract Tax (WCT) is applicable on execution of Works
Contracts, like construction of buildings, etc. Applicable
tax rates are as per the relevant schedules to the relevant
law in the country/state.
| Is This Answer Correct ? | 37 Yes | 3 No |
Answer / satpal nalavade
Vat is applicable for sale of products or goods. WCT is
applicable on execution of building material or other
construction workds like road, builing, dam construction.
applicable tax rate is depend upon related product tax
schedule.
| Is This Answer Correct ? | 26 Yes | 6 No |
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