i have made govt work contract of 594000 and now i have received payment after deduction of 2%tcs 2% tds 1% labour fund and 0.5 cess.
now my doubt is i have to pay 12% gst on 594000 i.e aprox 72000 or on the amount of
594000 - ( 12% of 594000) i.e. aprox 62000
please clear
2 Replies
Ajay Arya
(6 Points)
Replied 19 October 2017
you should have claimed 12℅ GST on 594000 & then to file mly qtrly returns
Arjun Tripathi
(168 Points)
Replied 19 October 2017
but it's 594000 is inclusive of all taxes ....paying 72000 will result loss to me
Recent Topics
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
Related Threads
CAclubindia
