Contractors receipt
This query is : Resolved
08 February 2021
Hello All
Pl advise. If the contractor receive amount 30lac 50k as his receipts from contract. On what amount GST will be charged. 50k or whole amount?
Pl note contract is for 30 lac with material.
Regards
Pl advise. If the contractor receive amount 30lac 50k as his receipts from contract. On what amount GST will be charged. 50k or whole amount?
Pl note contract is for 30 lac with material.
Regards
08 February 2021
GST will be charged on total amount billed. ITC can be claimed on input material and service.
09 February 2021
Thanks Sir
Whether returns will be filled quarterly. I will receive receipts after completion of contract..
Whether returns will be filled quarterly. I will receive receipts after completion of contract..
09 February 2021
GST returns to be filed quarterly and paid monthly based on billing.
09 February 2021
Sir
But bill will be issued to the party once when contract of building a property will finish. Or I have to bill on regular basis. Pl advise.
But bill will be issued to the party once when contract of building a property will finish. Or I have to bill on regular basis. Pl advise.
09 February 2021
Issue bill on regular basis.
09 February 2021
Sir
GST will be charged at what rate 18% or 12% or 5% . Pl confirm.
GST will be charged at what rate 18% or 12% or 5% . Pl confirm.
09 February 2021
18% applicable for other than government contracts. 12% applicable for government contracts.
10 February 2021
Sir. I will give the possession to owner of property after completion of floor. In this case GST no will be required. Pl confirm.
10 February 2021
You will be required to pay GST on advance payment received.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst on travel by air for business purposes
- CLOSING STOCK QUERY
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Rent claimed on building given on permissive possession basis
- Loss of interest in PF transfer from EPFO to Trust
- U/S 194 T
- 44AD, 44ADA business details
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
