Sir,
Gst works contract registered The party supply of crusher another registered partly(construction party).
Rs. 35000 buy and sell₹ 43000.
Rs. 35000(includes gst 5%)
Rs. 8000 (includes profit& transportation charges)
How gst return calculated?
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Works Contract Supplying Metal
Replies (4)
Quick Summary
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
Output Tax (-) Input Tax = GST payable
Gst payment will show output -input payment tax.
Supply of crushed metal to a construction contractor:
• Supply of crusher stone or aggregate (metal) by a registered supplier to another registered contractor is a supply of goods (HSN 2517), at 5%. It's not a works contract.
• If the supplier also lays or spreads it at the site (works contract), it's 18% (or concessional rates for government works where applicable).
• The construction contractor (works contract supplier) can claim ITC on the metal purchased (Sec 17(5)(c) exception for works contractors).
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