21 May 2018
Dear expert, My vendor XX ltd provide the erection service of rs 1000000. As per the agreement term we are hold 10% of value as retention. some vendor charged GST on Rs 10 lakhs and someone charged GST on 9 :Lakhs only. My doubts is : 1. GST is applicable on retention value or not ? 2. The vendor Ltd charged GST either Rs 180000 ( 18% of 1000000 ) or Rs 162000 ( 18% 900000 ) which is right ?. 3. How much we should paid to the vendor either Rs 1080000 ( 900000 + GST 180000 ) or Rs 1062000 ( 900000 + GST 162000 ) ?. 4. TDS to be deducted under Sec 194C or 194J and what is the taxable value for TDS deduction either 10 lakhs or 9 Lakhs. 5.
CAclubindia
