DO YOU KNOW SERIES-1 – C.A. AMIT AGGARWAL (NAGPUR/MUMBAI)

 

 

Under GST, Works Contract are deemed to be supply of Services thus, there will be no need to bifurcate the value of goods and services when the transaction has item rate as service and supply and tax would be levied on entire value at full rate. suppose someone has got Rs. 100 cr contract for Civil works from MSEGCL including all major materials & GST rate is 18%. 18 CR has to be paid as IGST or 9 cr each as SGST/ CGST depending on location of SGST/ CGST depending on location of supplier and place of Supply.

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