Works contract & Stds

Hi Sourav,

Under GST the entire amount under Works Contract will be treated as deemed service. The standard rate under GST for works contract will be 12% .

There is no criteria of abatement under GST for work's contract, therefore the entire work contract is categorized under service accounting code of 440410.    

Therefore 100% liability to pay tax will be of Service Provider i.e. in this case the liability to deposit tax under Works contract is on you if you provide Work Contract Service.

Do let us know if have any further ask. 

Best,

Bhawana 

https://www.gst-insights.com

hi

very informative

Thanks

Govind

Sir what is the GST Tax rate for Interior designers who come under works contract in current VAT Regime.