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...
What is works contract? In simple words works contract is a contract of service which may also involve supply of goods in execution of the contract. With a service part of contract being basis, works contract is basically a composite supply of both services & goods. The term Works Contracts has been defined in Section […]
Article explains What is works contract,? Works contract – Goods or services?, Block ITC on Procurement Of Works Contract services?, Maintenance of accounts by registered person executing works contract and GST Rates for Works Contract.
All the Assessee/Contractor/Service Provider (Contractor) who entered into contract for construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of construction with Government, a local authority or a governmental authority (“Contractee”)prior to the issue of this notification are covered by this levy.
After amendment to the constitution by inserting Article 366(29A) providing definition of the term “taxes on sale or purchase of goods” to include deemed sales, States were empowered to levy tax on sale or purchase of goods involved in execution of works contracts. However, the power of States to levy tax on deemed sales including works contract sales are subject to restrictions contained in Article 286 of the Constitution of India. Under Article 286 State has no power to levy tax on –
