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I am a structural steel contractor,
I am a structural steel contractor, i have last year purchased steel material is with me, once I done a work how can I bill in gst
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if your purchase is after 30.06.2016 you are eligible for input credit otherwise laps the credit. if you have valid invoice of such goods, you have to file TAN1 accordingly , if goods rate is 18% or more, you are eligible for 60% of such closing stock. 18% × 60 = 10.80% , 5.4% SGST 5.4% CGST.
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