My client did the government contract during the period Apr 22 to May 22 months. But payment from the department arrived in Aug 22. The gst increased from 12% to 18% from 18-7-22. We issue the Invoice at the time of payment received. I want to know which gst rate is applicable on such work the 12% gst or 18% gst ?
Pls suggest with rulling.
Menu
GST ON WORK CONTRACTS
Replies (2)
Quick Summary
As per provision of GST act you should have to issue invoice within 30 days of completion of work.
GST rate will be 12,%
GST rate will be 12,%
As per Section 14 of CGST Act , new rare will be applicable ie 18%.
Note : Thumb Rule :
In case of Services 3 conditions need to fulfill while Services is provided.
1. Bill raised
2. payment reced
3 Services has been provided.
So if any two of conditions is fulfill before the change in rate then Old rate will be applied.
Note : Thumb Rule :
In case of Services 3 conditions need to fulfill while Services is provided.
1. Bill raised
2. payment reced
3 Services has been provided.
So if any two of conditions is fulfill before the change in rate then Old rate will be applied.
Recent Topics :
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
- Short Deduction
- Large mismatch between AIS Business Receipts and G
- Income tax on Australian Stipendiary Steward on 3
- INCOME TAX SECTION 92E
- Queries on Tax Invoice and GST
- Income Tax Auditor Tenure for Small Companies
- Sec 8 company sec 12ab reg
Related Topics :
CAclubindia
