Works Contract Tax Return

The works contracts are not normal sales. In the normal sale there is a transfer of property in definite or ascertained goods. The goods remain same before and after the delivery of the goods. However, in works contracts it does not happen. The goods before the delivery and after the execution of works contracts are different, many times in different form also.

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E-WCT Returns filling process can be complex.

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“The activity is a sale or works contract depends upon the facts, the terms and conditions and the intention of the partiesIn normal practice, we can identify many indivisible/composite works contracts namely construction of a Building, erection of Plant & Machinery, Processing jobs, Job works, Repair jobs, Electrical Fittings, Annual maintenance Contracts (AMCs). Installation of Elevators, Air Conditioners, Repairs of Vehicles, Re-trending of old tyres, Customized Printing Jobs, Electro Plating, electro-galvanizing, anodizing etc.

Rajput Jain & Associates’ Works Contract Return expert team included Advocate and CA's. We are providing Works Contract Return filling Services in Delhi; we can work from starting to finish in the areas where we operate. We provide Works Contract Return related following services:

  • WCT Registration
  • Compilation of Annual Returns
  • Filing of Annual Returns
  • Attending Regular Assessments
  • Attending Scrutiny Assessments
  • Obtaining Exemption forms
  • Liasoning with Department

Simple Steps to Work Contract Tax Return Filing!

Works Contract Return

Our experts can help you compute your Works Contract return payments, e filesWorks Contract Return and keeps you in compliance with Works Contract Return regulations.

Document Collection

Rajput Jain & Associates Works Contract expert will collect the necessary information and documents for preparation of Works Contract return for your business.

Return Preparation

Based on the documents and information presented, Rajput Jain & Associates’ Works Contract Return expert will prepare your Works Contract Return and send for your approval.

Return Filing

Once the Works Contract Return is verified and approved by you, our Works Contract Return expert will file your Works Contract Return with the sales tax department in your state.

Happy Customers

200+

Projects Completed

550+

Serving Since

2009

Contracts Signed

700+

FREQUENTLY ASKED QUESTIONS (FAQ)

  • How the taxable turnover of a works contractor is determined?

    The taxable turnover of a works contractor is determined by deducting the expenses incurred towards labour and services from the gross value received or receivable against the execution of the work.

  • Can I use a PAN instead of TAN?

    No, PAN cannot be quoted where TAN is required. TAN is provided for identification of Deductor of tax while PAN serves a general identification for every income tax assessee.

  • When the works contractor does not maintain accounts of the expenses on labour and services, how such expenses can be determined?

    When expenses towards labour and services incurred by a works contractor are not available and claims are made on such account, then the standard rate as specified in the appendix to Orissa Value Added Tax Rules, 2005 shall be applied.

  • What is the taxable event in case of execution of work?

    As in the case of any other dealer, the taxable event takes place when there is transfer of property in goods (in the same form or in any other form) i.e. when the goods are appropriated to the work being executed.

  • How the taxable turnover of a works contractor is determined?

    The taxable turnover of a works contractor is determined by deducting the expenses incurred towards labour and services from the gross value received or receivable against the execution of the work.

  • When the works contractor does not maintain accounts of the expenses on labour and services, how such expenses can be determined?

    When expenses towards labour and services incurred by a works contractor are not available and claims are made on such account, then the standard rate as specified in the appendix to Orissa Value Added Tax Rules, 2005 shall be applied.

  • What is the rate of tax applicable to the works contract?

    There is no specific rate of tax for works contract.Goods used in the execution of works contract are deemed sale of such goods.When goods are sold in the execution of works contract, the rate of tax applicable to the goods shall be the rate of tax applicable to such goods.

  • Can a works contractor claim input tax credit?

    Yes. A works contractor can claim input tax credit.

  • What are the goods eligible for input tax credit?

    The input tax credit is available on the purchase of goods used in the execution of works contract.

  • Can a works contractor claim input tax credit on opening stock?

    A works contractor is entitled to input tax credit on the opening stock as on 01.04.2005.

  • Whether capital goods purchased for execution of works re eligible for input tax credit?

    No. Capital goods purchased for execution of works are not eligible for input tax credit.Is there any composition scheme for the works contractors?Yes. There is a composition scheme for the works contractors.

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