Sale and Purchase entry for works contract service in tally prime

Follow revenue recognition standard if it is development property. If it is self constructed asset, follow accruals, billing process. Tallysolutions .com has known pragmatic solutions. Check that out. 

I think your asking for as standard. It is constrtion contracts.

Sry about that. I am new to works contract and this will help you How to record Works Contract Transactions in Tally.ERP 9 to Calculate TDS on the net amount of Purchase? (tallyerp9book.com)

Input Tax Credit

Under the GST Regime , input tax credit is not available for works contract services when supplied for construction of immovable property (excluding plant and machinery), except where it is an input service for the further supply of works contract service – which means that contractor can avail the ITC in respect of services availed from the sub-contractor. Also, ITC will not be available for all goods or services accepted by a taxable person for constructing immovable property with his own account. This excludes plant and machinery, even when used for use in the course or furtherance of business.

Works Contract Under GST - Revised rates on services - Tally Solutions

You may avail itc in this case.
To know how to create sales and purchases vouchers in tally prime, refer https://youtu.be/ccWxaOdgMB4