sir,.
1.is there any separate agreements to be prepared by the contractors with work awarder for the balance of woks going on after March 31,2017.
2. From April to June 2017 ,how the taxes to be calculated. whether we need to submit vat return and service tax as at present going on!!!.
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Ongoing Works Contract
Replies (6)
" 1.is there any separate agreements to be prepared by the contractors with work awarder for the balance of woks going on after March 31,2017?" NO
" 2. From April to June 2017 ,how the taxes to be calculated. whether we need to submit vat return and service tax as at present going on!!" YES
No separate agreement required. For the first quarter VAT & Service Tax return shall be filed as usual. On last date of june, an invoice can be raised for the completed part of work contract and usual amount of VAT/Service Tax be paid.
From the appointed date, taxes are required to be paid under new GST regime.
I have a query
whether we have to mention both sac and hsn while enrolling for GST under works contractor dealing in goods and services
No, under GST, entire works contract will be covered under single SAC.
Thankyou ajay. Can you please let me know that where we can find this disclosure
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