Hi all,
Please tell me what is the rate of tax for electrical contractor who Supply Goods & Services to Govt (Govt Works). How to calculate the tax amount. And is ITC available on Purchases?
Menu
GST Tax for Electrical Contractors.
Replies (8)
Please check whether you works fall under the definition of works contracts or not. If yes, rate of GST is 18% for works contracts. Please note that there is some relaxation in GST rate for works contracts done under governemnt project. so please check whether your project eligible for relaxation or not.
If it doesn't fall under the definition of works contracts, it will be treated as a mixed supply. if you do not raise the bill seperately, supply which attracts higher rate will be applied on complete transaction.
RATE OF WORK CONTRACT TO GOVT. IS 12%, YES U CAN AVAIL ITC
sir here is one question if I purchase the material for 18% and the same is supplied under work contract to government then the GST rate is 18% or 12%
Purchase is 18%. But for government work contract 12% is gst applicable for their services including the materials. The difference of output tax and input tax shall be payable as gst amount.
means for the same material I have more input after reducing lesser rate output
No problem as your purchases is @ 18℅ & Sold to Govt at 12% , the only problem is Cannot file refund for excess itc in books
Aggred
Thanks to all
What to do for works done in pre GST period say in Jan-17 but we got the check (amount) in Aug-17 GST Period. Is we have to pay tax @ 18% or 12% in gst or how to show it???
What to do for works done in pre GST period say in Jan-17 but we got the check (amount) in Aug-17 GST Period. Is we have to pay tax @ 18% or 12% in gst or how to show it???
Recent Topic
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
- INCOME TAX NOTICE 143(2) - FY 2024-2025
- Unable pay Self Assessment Tax - Netbanking and De
Related Topics
CAclubindia
