If someone quoted govt work contract tender before the implementation of gst and his payment is reflecting in bank account after gst implementation (after 2-3 months ) Does he have to pay gst on work contract ??
Eg. If contract of Road of amount 23 lacs quoted on 28 june and payment will received after 2-3 months later from quoted date.How much gst will have to pay ?
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gst on work contract
Replies (8)
1. No, if ST & VAT already charged on such payment......
Oh......... GST applicable from all the supplies from 1st July, 2017.......... For works contract it is 18% with ITC
Is reverse charge mechanism under GST applicable in works contract, if we purchase goods or services from unregistered dealer?
yes whole amount of work contract
And you availed input GST credit on input services & Goods
Yes Reverse charge applicable on services & Goods if you purchase from Unregistered Dealer whether you registered under compostion scheme or not
Regarding reverse charge mechanism,invoice should carry seller name or service provider name where exactly purchases or recives service or just we can write unregistered dealer.
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