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works contract bill treatment
how should I treat this bill given by works division to a works contractor in which Gst is not specified? Income tax @ 2% is deducted but gst is not shown.
Replies (6)
usually govt dept not show GST...
do reverse calculation
suppose Gross Bill is 500/_
Taxable value will be 446/-
GST Amount will be 54/-
do reverse calculation
suppose Gross Bill is 500/_
Taxable value will be 446/-
GST Amount will be 54/-
Ok. Thank you
You are welcome
Normal they deduct tds in work contract. That can be claimed in income tax.
Whether contractor charged gst on local authority contract
yes @ 12%......... (as per notification 1/2018 CT (R)
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