19 October 2022
Agreement entered in the year November 2017 (at that time products (95% Value) GST 5% and Service(value 5%) GST 18% subsequently as per Notification No.24/2018 dated 31-12-2018 the taxes calculation has been considered 70:30 Product and Service portion Further Rate of GST of products increased to 12% but supplier has supplied all products on before rate change 30-09-2021, Now the situation is what rate of tax considered for works contract whether it should be as per latest rate applicable or as per agreement rates? Kindly clarify thanks in advance