We have received an EPC contract from Government which comprising the construction works of civil structure and Supply, Installation, Testing and Commissioning of Pumping Machineries with two years of Operation and Maintainence of it.
I want to know, will it be considered under Composite Supply of Works Contract and if yes, then what would be GST rate applicable? Can we claim ITC for the materials used for completion of the project?
Does it require to give any intimation prior to start the work and invoicing to GST department as were necessary to get permission from VAT department under old tax regime to start work under Works Contract?
Krea University
Chennai
CA
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Saini Pati Shah & Co LLP, Chartered Accountants
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