Whether machinery included in the cost of construction under Building and other Construction Workers Welfare Cess Act? Plz discuss in detail?
From India, Visakhapatnam
From India, Visakhapatnam
Cost of machinery cannot be included in the cost of construction though an amount of depreciation is permissible. One machinery used for the construction will be used for another construction also.
From India, Kannur
4249From India, Kannur
The Building and Other Construction Workers' Welfare Cess (BOCW Cess) Act primarily imposes a cess (tax) on the cost of construction incurred by employers. The funds collected through this cess are intended for the welfare of construction workers.
The calculation of cess under the BOCW Cess Act typically includes the cost of construction, and this cost may cover various elements, including labor, materials, and machinery. The exact details and components included in the cost calculation may vary, and it's crucial to refer to the latest provisions of the BOCW Cess Act and any relevant notifications or amendments.
The inclusion of machinery costs in the calculation of cess may depend on how the legislation is framed and any specific guidelines issued by the authorities. It's advisable to consult the latest legal texts, circulars, or notifications related to the BOCW Cess Act to get accurate and up-to-date information.
Moreover, tax laws and regulations are subject to change, and there may have been amendments or updates.
Therefore, for the most current and accurate information, I recommend checking with a legal professional, government authorities, or official sources such as the Ministry of Labour and Employment.
From India, Kolkata
The calculation of cess under the BOCW Cess Act typically includes the cost of construction, and this cost may cover various elements, including labor, materials, and machinery. The exact details and components included in the cost calculation may vary, and it's crucial to refer to the latest provisions of the BOCW Cess Act and any relevant notifications or amendments.
The inclusion of machinery costs in the calculation of cess may depend on how the legislation is framed and any specific guidelines issued by the authorities. It's advisable to consult the latest legal texts, circulars, or notifications related to the BOCW Cess Act to get accurate and up-to-date information.
Moreover, tax laws and regulations are subject to change, and there may have been amendments or updates.
Therefore, for the most current and accurate information, I recommend checking with a legal professional, government authorities, or official sources such as the Ministry of Labour and Employment.
From India, Kolkata
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Cost Cutting Chair.jpg
Recruitment Cost Analysis.xls
COST INPUTS IN DECISION MAKING.ppt