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What is WCT? On Which it is calculated?
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Answer Posted / santosh kumar pattanaik
WCT means Work Contract Tax. It is levied on Contractors,
Sub-contractors, Specially who are taking contract of
Highways, Railways, Bridges, Structure Work, power plant
contract etc. It is levied@ 2% on Running Account Bills
(Work done by the sub-contractor). It has been paying to
Govt. through TIN Number and issuing Form 36 (quarterly
basis) against WCT deducted from the Sub-Contractors to
howm taken the contract.
| Is This Answer Correct ? | 9 Yes | 2 No |
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