we are into civil construction business.only catering government departments. as per gst our rate is 18%. but our tender schedule has been made including vat rate and we will be getting payment on that rate itself. then how can we adjust for 18 % gst.
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Gst on works contract
Replies (2)
Check whether the tender terms can be modified based on the historic change of GST in India.
Generally, such clauses are incorporated in contract agreement.
As Vat element is no more valid u can show vat element show in return so u can get benefit of the same if u don't show vat credit element in vat return u will loose credit in transition period as GST applied from 1 st July 17
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