What is wct?

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Question: What is wct?

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Works contract tax (WCT) is a tax imposed on a contract for work, such as assembling, construction, building, altering, manufacturing, processing, fabricating, installation, improvement, repair, or commissioning of any movable or immovable property. On Sale of Goods, Vat is ApplicableOn Sale of Services, Service Tax is ApplicableThere are some services which are in nature of both goods and services. Works contract tax (WCT) is a tax imposed on a contract for work, such as assembling, construction, building, altering, manufacturing, processing, fabricating,. Such transfer of property in goods is leviable to tax as sale of goods (such as sales tax, VAT or WCT, etc. 2% in case of Registered Dealer; 5% in Unregistered Dealer. WCT is like VAT it is added to the value of goods in invoice by the manufacturer and TDS is deducted by the customer at the time of making.

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Answered By:
Prisha

Prisha

Washington, D.C., United States

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