22 May 2018
Rs. 50 lakh has been credited from govt department for work contract .Will I pay GST on this work . ? 1. Rs.44,64,287+ Rs.535714= 50lakh. Or 2. RS.5000000×12%=6LAKH? GST Amount Rs. 535715 OR 600000??
22 May 2018
Check whether its advance or actual payment against the bill submitted. if its advance then you can calculate Rs.44,64,287+ Rs.535714= 50lakh. Incase against bill raised already, you might have calculated and paid the GST
CAclubindia
