Sales Bill above 5000000 - 1% GST Cash Ledger to be paid or not

AS you sales are above Rs 50 Lakh you can utilize ITC onlu upto 99% and pay 1% of your output liability in cash. However if in your latest ITR you have self assessment tax liaibity of Rs 1 lac or more you are exempted from this rule.

Originally posted by : Libissa
	I am doing private contract work i have issued a Invoice in August 2021 for Rs. 5100000/- GST 18% - 918000/- - Total 6018000/- I want to know whether i want to pay 1% GST in Cash Ledger or i can utilize full ITC amount in GST Tax

You may utilize 100% ITC provided u file ITR with tax laiblity of 100000

Originally posted by : sabyasachi mukherjee
	Private contract work is issued as invoice of Rs. 51 lakhs.gst rate is different.what is the nature of contract?is there a works contract registration?

Work contract simply being in the nature if service attracts 18% tax rate

Read works contract act which is also included here.

Different types of works contract are categorized differently.

we need to refer to GST Act in the Instant Case.