QUERY REGARDING GOVERMENT WORKS CONTRACT GST RATE 18 % FROM 18TH JULY 2022
This query is : Resolved
11 July 2022
Firm XYZ has a government contract in which gst was applicable at the rate of 12% and the contract is still in progress. Now as per the GST council Meeting 47 , the new rate applicable for government work contract is 18%
Then what about the old contract which was executed at the rate of 12% and margin was also not defined ? Whether the contract shall be revised @ 18 % ?
or
The new rate will be applicable for the new contract executed on or after 18 July 2022 and the old contract will be remain same ?
Then what about the old contract which was executed at the rate of 12% and margin was also not defined ? Whether the contract shall be revised @ 18 % ?
or
The new rate will be applicable for the new contract executed on or after 18 July 2022 and the old contract will be remain same ?
11 July 2022
The new rate should be charged for all the work done after the effective date, even for old contract/s.
12 July 2022
Please elaborate your query:
If supply is already made – Yes or No?
Date of Invoice?
Date of Payment?
If supply is already made – Yes or No?
Date of Invoice?
Date of Payment?
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