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Contract work shown in gst
if a contractor receive payment in his bank account for contract.and the amount shown in 26as is less than amt received in bank account then whats to be shown in gstr3b.
Replies (4)
Quick Summary
Show the amount which is received in bank account
Amt shown in bank account to be taken as taxable amt or invoice value
It is taxable value
Works contract act is a seperate discussion forum.
It is very evident that the amount received in bank account less tds is the amount shown in bank account.
The principal employer whether it's a mobile advance or whatever will always deduct tds and pay.
But 26AS AND AMOUNT RECEIVED SHOULD MATCH.
THERE SHOULD NOT BE A MISMATCH.
SECOND COMES GSTR 3B.
WHAT IS GSTR 3B?
GSTR 3B IS SUMMARY OF ALL INWARD AND OUTWARD SUPPLIES.
SO THIS IS SUFFICIENT.
It is very evident that the amount received in bank account less tds is the amount shown in bank account.
The principal employer whether it's a mobile advance or whatever will always deduct tds and pay.
But 26AS AND AMOUNT RECEIVED SHOULD MATCH.
THERE SHOULD NOT BE A MISMATCH.
SECOND COMES GSTR 3B.
WHAT IS GSTR 3B?
GSTR 3B IS SUMMARY OF ALL INWARD AND OUTWARD SUPPLIES.
SO THIS IS SUFFICIENT.
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