WORKS CONTRACT
Query (Issue) Started By: – ajit tiwary Dated:- 24-2-2018 Last Reply Date:- 9-9-2018 Goods and Services Tax – GST
Got 4 Replies
GST
Dear Sir,
\nmy client is a road contractor and the gst rate applicable @12% but those projects which has been started before 01\/07\/2017 and still work in progress. the old agreement related to cost has not been revised by the state government after implementation of gst. when we produce bill for payment the department determine it inclusive of gst. i can illustrate it as follow:
\nSuppose overall contract price= 150
\npre-gst
\nBill produce= ₹ 100
\nVat Deducted=Rs. 4( Vat @4%)
\nBalance receive= 96 (assuming that tds has been deducted)
\npost gst
\nBill produce= ₹ 50 (as per dep<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ces or both shall issue to the recipient a supplementary invoice or debit note, containing such particulars as may be prescribed, within thirty days of such price revision and for the purposes of this Act such supplementary invoice or debit note shall be deemed to have been issued in respect of an outward supply made under this Act; = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n to correct me, if mistaken. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" WORKS CONTRACT Query (Issue) Started By: – ajit tiwary Dated:- 24-2-2018 Last Reply Date:- 9-9-2018 Goods and Services Tax – GSTGot 4 RepliesGSTDear Sir, my client is a road contractor and the gst rate applicable @12% but those projects which has been started before 01\/07\/2017 and still work in progress. the old agreement related to … Continue reading “WORKS CONTRACT”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10582","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/10582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10582"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/10582\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n(b) where, in pursuance of a contract entered into prior to the appointed day, the price of any goods or services or both is revised downwards on or after the appointed day, the registered person who had removed or provided such goods or services or both may issue to the recipient a credit note, containing such particulars as may be prescribed, within thirty days of such price revision and for the purposes of t<\/p>\n
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\nReply By ajit tiwary:
\nThe Reply:
\nDear Sir
\nThanks for your reply
\nin case of input tax credit my opinion is that in case of government contract the owner of the property will be the state government and the agency i.e Road construction Division is a main contractor and the main contractor is appointing us as a contractor(i.e sub contract), secondly
\nif the purchase of goods and services by the contractor to make the road project and handed over the project to the road construction division, we can take the credit as for furtherance of business by the road contractor.
\nkindly reply me
\nthanks
\nReply By KASTURI SETHI:
\nThe Reply:
\nHow can you call yourself sub-contractor ? In my view, you are main contractor and h<\/p>\n
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