Contract for Building a property
This query is : Resolved
30 January 2021
Sir
Hope you are safe.
My client has got a contract for building a property. Whether he has to show as business profit or..? What are the things to be kept in mind.
Can he do the business from his personal/individual account .
Whether GST applicable? if yes then how he will deposit the same at what rate.
Kindly advise.
Regards
Hope you are safe.
My client has got a contract for building a property. Whether he has to show as business profit or..? What are the things to be kept in mind.
Can he do the business from his personal/individual account .
Whether GST applicable? if yes then how he will deposit the same at what rate.
Kindly advise.
Regards
Dhirajlal Rambhia
(Expert)
11 October 2021
It will be a business activity.
Better to open current account in the name of firm.
Yes, GST will be applicable. at 12% under works contract..
Better to open current account in the name of firm.
Yes, GST will be applicable. at 12% under works contract..
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