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gst rate on works contract
what is the gst rate for works contract
Replies (10)
Works Contract is based on Composite supply. So, which is highest rate of supplies that is applicable to all.
work contact is now service sector...with all the immovable construction..if movable goods then u will get itc
Sorry to say this is not the answer i want....i want to know the exact rate or atleast some kind of formula from which i can get the exact rate
gst on works contract 18% with full itc
Composite supply of Works contract as defined in clause 119 of section 2 of CGST Act - 18%
Composite supply of Works contract as defined in clause 119 of section 2 of CGST Act - 18%
(119) “works contract” means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract;
In case of work contract if you pay GST you cannot avail of itc
i think case of a contractor he can cliam all input
Yes contractors other than those registered under composition scheme you can avail of itc
Yes contractors other than those registered under composition scheme you can avail of itc
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