Gst deduction less than 2.5 lakh

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58 Points Posted on 04 August 2023
value of contract is 2.7 lakh but only 2.45 lakh is required to execute the whole work.

in this case gst need to be deducted or not as the contract value is more than 2.5 lakh but executed value of work is less than 2.5 lakh.


thanks in advance
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On 04 August 2023 at 15:41 Report
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Quick Summary
This discussion addresses whether GST needs to be deducted when a contract's total value is over £2.5 lakh, but the actual work executed costs less than this threshold. The consensus is that if the initial contract value exceeds £2.5 lakh, TDS (Tax Deducted at Source) is generally applicable, regardless of the final executed cost.

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Chartered Accountant
24588 Points Posted on 04 August 2023
If value of contract is 2.7 lakhs then it should be deducted As it exceeds 2.5 lakhs rupees (TDS)
1 Reply
On 04 August 2023 at 15:53
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"Do the Right Thing...!!!"
128162 Points Posted on 04 August 2023
TDS applicable for the contract value...
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On 04 August 2023 at 16:54

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