will GST amount included in contract amount
or
we need to pay 12% GST on contract amount.
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Government work contract
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GST @ 12% is applicable on Government Works Contract on the Transaction Value.
As per the Provision of Section 15(1) of the CGST Act 2017 [ Valuation Provision ], GST is levied on the "TRANSACTION VALUE". Transaction Value is calculated in accordance with the Provision of Section 15(2) & 15(3) of the CGST Act 2017.
As per the Provision of Section 15(1) of the CGST Act 2017 [ Valuation Provision ], GST is levied on the "TRANSACTION VALUE". Transaction Value is calculated in accordance with the Provision of Section 15(2) & 15(3) of the CGST Act 2017.
Sir got government tender before GST now still work is going on ,now they are not giving GST amount.
so can I take GST amount included in contract amount
so can I take GST amount included in contract amount
Will be levied on Transaction Value
You pay GST @ 12% on payment received from government under the contract. Once the final bill is made, you will have to pay the balance tax.
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