My client did the government contract during the period Apr 22 to May 22 months. But payment from the department arrived in Aug 22. The gst increased from 12% to 18% from 18-7-22. We issue the Invoice at the time of payment received. I want to know which gst rate is applicable on such work the 12% gst or 18% gst ?
Pls suggest with rulling.
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GST ON WORK CONTRACTS
Replies (2)
As per provision of GST act you should have to issue invoice within 30 days of completion of work.
GST rate will be 12,%
GST rate will be 12,%
As per Section 14 of CGST Act , new rare will be applicable ie 18%.
Note : Thumb Rule :
In case of Services 3 conditions need to fulfill while Services is provided.
1. Bill raised
2. payment reced
3 Services has been provided.
So if any two of conditions is fulfill before the change in rate then Old rate will be applied.
Note : Thumb Rule :
In case of Services 3 conditions need to fulfill while Services is provided.
1. Bill raised
2. payment reced
3 Services has been provided.
So if any two of conditions is fulfill before the change in rate then Old rate will be applied.
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