Sir,
We were paying 3.5% of VAT tax on Govt Civil contracts on roads and buildings as road contracts were out of service tax we had to pay only VAT of 3.5% . With GST we have to pay 12% on Govt works contract how the additional tax will be bourne by contractor on existing works contract.
Thanks
Jishu Patra
Check your contract..... if any additional tax liability can be shared by contractee.......
Secondly........... you will get ITC over the input raw materials and labour charges which was not available earlier....... so net difference will not be same as seen directly.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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