Goods and Services Tax : Explore the comprehensive guide to Job Work Compliance under GST, covering the meaning of job work, examples, procedure, rates, an...
Corporate Law : Learn about works contracts, including their definition and how to create an agreement for one. Understand the roles of the contra...
Goods and Services Tax : Stay updated on GST changes effective July 18, 2022, including revised rates for Works Contract Services. Explore amendments to Re...
Goods and Services Tax : Under GST laws, the definition of ‘Works Contract’ has been restricted to any work undertaken for an ‘Immovable ...
Goods and Services Tax : As per Para 6 (a) of Schedule II to the CGST Act, 2017, works contracts as defined in section 2(119) of the CGST Act, 2017 shall b...
Goods and Services Tax : Since the question of whether the transactions in issue constitute works contracts or sales would involve an examination of the co...
Goods and Services Tax : Works contract for fitting out or implanting of prosthetics into the physiology or the body of the patient for alleviation of pain...
Explore the comprehensive guide to Job Work Compliance under GST, covering the meaning of job work, examples, procedure, rates, and crucial insights. Understand the GST implications for job work with detailed analysis and practical examples.
Since the question of whether the transactions in issue constitute works contracts or sales would involve an examination of the contracts as well as various other factual particulars and such an exercise cannot be undertaken in writ jurisdiction.
Learn about works contracts, including their definition and how to create an agreement for one. Understand the roles of the contractee and contractor, the terms of work, and legal responsibilities involved.
Stay updated on GST changes effective July 18, 2022, including revised rates for Works Contract Services. Explore amendments to Reverse Charge Mechanism (RCM) on GTA services and residential dwelling units. Get insights on GST rates, compliance requirements, and the impact of recent notifications. Stay GST-compliant and informed.
Under GST laws, the definition of ‘Works Contract’ has been restricted to any work undertaken for an ‘Immovable Property‘ unlike the existing VAT and Service Tax provisions where works contracts for movable properties were also considered. The Works Contracts has been defined in Section 2(119) of the CGST Act, 2017 as “works contract” means a […]
As per Para 6 (a) of Schedule II to the CGST Act, 2017, works contracts as defined in section 2(119) of the CGST Act, 2017 shall be treated as a supply of services. Thus, there is a clear demarcation of a works contract as a supply of service under GST. As per section 17(5) (c) of the CGST Act, 2017, input tax credit shall not be available in respect of the works contract services when supplied for construction of an immovable property (other than plant and machinery) except where it is an input service for further supply of works contract service.
Situs of Goods or accretion of goods in works contract whether relevant to determine the nature of Supply in case of Works Contract Introduction Though GST is destination based tax but In works contract, it is important to determine the point of origin from where supply is made. The point of origin shall not only […]
This article contains following concepts in regard of Works Contract under GST- What is Works Contract, What is immovable Property for the purpose of Works Contract, Whether Works Contract Supply is a Supply of Service or Supply of Goods or both, Input Tax Credit provisions for Works Contract
Works contract for fitting out or implanting of prosthetics into the physiology or the body of the patient for alleviation of pain or for improvement of the life of the patient in the course of medical/surgical procedure could be construed as ‘works contract’ liable for VAT under the provisions of the Tamil Nadu Value Added Tax Act, 2006.
In GST regime, this debate or confusion on taxability of Work Contract has been removed and now been declared as a supply of service as mentioned in Schedule II to the CGST Act, 2017.
