We are into works contract service. we have given one of our project to one of the sub contractor. now after completion of desired work, we need to pay him. what should be the expense head for that?
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Sub contractor work-expense head
Replies (9)
Yes. I agreed with Mr Samir...
You pay as "Labour Charges Paid"
You pay as "Labour Charges Paid"
we are deducting the IT and depositing in section 194 C Now is it necessary also to pay the GST @ 12% THANKS
@ Super trad.....
Your query is not cleared...!
What is the amount..?
Which head you ll give...?
Your query is not cleared...!
What is the amount..?
Which head you ll give...?
If we're paying the any amount to sub contractor deducting the INCOME TAX and deposit it in section 94 c I may be wrong about section Now in GST regime is it also necessary to deposit the GST @ 12% of the amount paid to the sub contractor and then take the input
Once again you can't cleared....!
But, the Sub-contractors are registered then you ll be take ITC for tax portion...
In case they are URD you ll be pay Tax under RCM basis and you can take it as ITC....
But, the Sub-contractors are registered then you ll be take ITC for tax portion...
In case they are URD you ll be pay Tax under RCM basis and you can take it as ITC....
I think GST is 18%....
right Sir and thanx
You are welcome...
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