Suppose I am Registered under GST.
I have given any contract (which includes Material supply plus services) work to any Registered Party.
Another Party bought material from third party who charged GST for materials.
Now the Party to whom i had made contract is charging on Cost+ Contractor Profit+ GST.
Is this right?
Should the Contractor charge both C.P.+GST both on the same bill on which a third party had charged GST for materials only.
plzz experts advice.
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Replies (2)
it should not be on GST if that your subcontractor is getting credit of GST he had already paid..
otherwise it will have cascading effect
otherwise it will have cascading effect
As per my personal opinion, you can ITC only on amount on bill of contract. Not on purchase of contractor...
Its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
Its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
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