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rate of gst deduction by govt on civil work contractor
Sir in current time govt department deduct vat 6.05 % from contractor bill now after applicable of gst what rate of deduction made by govt contactor
Replies (19)
1% if total value of supply under a contract exceed 250000/-RS.
in road work contract contractor issues material from his batching plant to his site whether the material cost more than 50 thousand are print e way.
yes u have to generate.e-way
Dear Mam/Sir, if 1 % tds will be deducted by govt. on payment to contractor how they will take benefit of it if turnover in a year more then 20 L
they can take ITC of the same
Mam how they will take ITC of same beacuse there is no GST charged in outward supply
in road work contract contractor issues material from his batching plant to his site whether the material cost more than 50 thousand are print e way. It is compulsory?? in stock transfer...
e-way bill has been kept in abeyance as of now.
overflow ITC in work contract is refundable.?
yes it is available subject to some conditions as defined in relevant rates
what is the condition regarding relevant rates? "yes it is available subject to some conditions as defined in relevant rates"
https://www.gstsoln.com/latest-schedule-gst-rates-services-approved-gst-council/
check here in the list at point no 19, specificaly written.
in case of civil contractor, govt deducted works contract tax 6.05 % in his bill. but now gst is govt deduct work contract tax . if yes how much and it is adjustable in GST or contractor claim refund from department. Plz clarify me. Thanks
My contract person comes in my factory premises and do work then i pay him on production basis.
While making payments to him rcm is applicable pls reply?
While making payments to him rcm is applicable pls reply?
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