| Originally posted by : Dhirajlal Rambhia | ||
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GST is levied over and above transacted price. Secondly, supplier has to pay the amount to treasury. So, its Government is charging tax over the supply. But in case supplier sells it as tax inclusive (like MRP on medicines) in that case the supplier/contractor has to pay GST from his own pocket. Depends how he negotiates with customer. |
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Sir.,
I cant understand this...
Can You explain some example values Please...
If supplier sells it after completion.......... no question of GST levy.
In case of sell during construction period, GST is to be paid to treasury, who pays doesn't matter. Generally supplier levy tax over agreed price. But rarely it happens that they may agree to sell inclusive of GST, i,e, tax paid from own pocket.
Thank You for the detailed replies Sir...
CAclubindia
