issue regarding rate of tax applicable to work contractor

[GURPREET SINGH]

hello to everyone,

i want to know the rate of tax to be charged and deposit to the govt under different schemes, if available to the assessee, he is dealing in up, delhi and haryana. he works on civil contractor.

please tell the rate and under all vat act, is assessee liable to register???

please reply.. thanks

gurpreet singh

AI Summary

Works contract tax treatment: valuation, TDS obligations, and interplay of VAT, WCT and service tax under applicable rules.
Works contracts attract overlapping levies: Service Tax and WCT may apply, with reverse charge for service tax from July 2012; where books separate goods and services actual apportionment is allowed, otherwise DVAT Rule 3 prescribes specified percentages to compute labour/service components. VAT valuation under DVAT excludes labour, services and land from the taxable value of goods transferred; turnover arises when consideration becomes due or receivable under Rule 4. WCT/TDS is deductible by contractee or contractor at the time of credit/payment at the prescribed rate, with a small-contract exemption and specified compliance formalities.