Works Contract Supplying Metal

188 views 3 replies
Sir,
Gst works contract registered The party supply of crusher another registered partly(construction party).
Rs. 35000 buy and sellโ‚น 43000.
Rs. 35000(includes gst 5%)
Rs. 8000 (includes profit& transportation charges)



How gst return calculated?
Replies (3)

GST Invoice will be as follows :- 

Taxable Value- Rs. 40952.38

GST-  Rs. 2047.61 

Total Value- Rs. 43,000/-

At, the time of paying GST amount of Rs. 2047.61 can be adjusted through ITC of Rs. 1666.65 (paid to buyer from Rs. 35000/- good purchased)

Finally, You have only pay GST of Rs.2047.61- Rs.  1666.65=   Rs. 380.96

GST will be calculate as

Output Tax (-) Input Tax = GST payable
Gst payment will show output -input payment tax.


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