TMI Blogwork contract taxX X X X Extracts X X X X X X X X Extracts X X X X ..... In a work contract labour and materials seperately shown.VAT for material and service tax for labour claimed.Whether work contract tax for labour shall be deducted on payment. - Reply By YAGAY AND SUN - The Reply = Dear Veera, Showing the labour component and material component separately won't absolve you from the liability under the provisions of WCT. If you are not maintaining the separ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate 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 contractor 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 provider of works contract service. The deductor is required to deposit the amount so collected to the exchequer. the deductor shall is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sue 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 DEEPAK GAGRANI - The Reply = Dear Sir I want to escalate this problem. can we deduct TDS/WCT on inter state transaction. - R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eply 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 in Daman Diu most of contractor belong to gujrat maharasthra. - Reply By YAGAY AND SUN - The Reply = Dear Deepa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k, 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) - work contract tax - Query Started By: - veera swamy Dated:- 21-11-2015 Value Added Tax - VAT-CST - Got 6 Replies - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt, 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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