Value consideration at trhe time of wct

[Asked by Guest]

If the work order value of any party is more than 1 crore rupees than we deduct 2% as Work contract tax. now my question is that while deducting 2% WCT which value we have to consider (basic order value) or (basic vlaue + service tax + vat).

AI Summary

Work contract tax valuation: exclude service tax and VAT from each other's taxable value; treatment pending final rules.
Question whether the 2% work contract tax base should be the basic contract value or include taxes; guidance given that service tax should not be included in the VAT value and VAT should not be included in the service tax value because the activities are simultaneous, but definitive methods are pending notification and rule-making for any composition scheme.