Gst on security deposit deducted in govt works contract
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2018
Hello All,
Lets say We present running account bill of 1,00,000 to Govt , Govt Deduct 5% as a security deposit and we have received payment of 95,000.
So, We have to pay gst on 100000 or on 95,000. that Security deposit we will receive after contract period which is 5 years.
Lets say We present running account bill of 1,00,000 to Govt , Govt Deduct 5% as a security deposit and we have received payment of 95,000.
So, We have to pay gst on 100000 or on 95,000. that Security deposit we will receive after contract period which is 5 years.
Expert : Anonymous
Expert :
Anonymous
(Expert)
25 September 2018
GST payable on billed amount...
Its mean pay Tax for the value of 1 lakh...
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