one of the my friend registered as a contractor under Telangana state and he was doing mission bhageeratha work.
recently ha had received part payment from government. how to file GST Returns of him? what is the tax rate applicable for him?
I told him that, Returns should be depends on what he was received payment from government. should he claim inputtax credit?
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Replies (7)
He can claim ITC.
Tax rate should be 12%
Does he receive tax portion also from the govt or the amount received is inclusive of GST?
what should be done in the situation if he received some part of the tender without any tax amount
It will be considered as inclusive of tax amount.
but some government agencies are showing the total tax amount on the time of remaining payment
As per rules, each payment is inclusive of tax.
No its not as per Rule , ... check your contract/tender letter if its inclusive or exlusive of tax , charge accordingly.
Yes I agree with you. But here the discussion is can whole tax amount be paid at the time of paying last instalment
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