https://www.taxtmi.com/forum/issue?id=4553 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. en-us Wed, 22 Aug 2012 18:15:48 +0530 Thu, 23 Jan 2025 15:57:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4553 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. Discussion-Forum VAT / Sales Tax Wed, 22 Aug 2012 18:15:48 +0530 https://www.taxtmi.com/forum/issue?id=4553