GST-Input Tax Credit

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  • Please provide details of how and by what way Gst levy on construction and on works contract ? Also provide how we can made calculation of gst n Input tax credit?
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GST - Input tax credit Tax Clinic Question 1 year 3 Answers 75 views 0

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  1. taxclinic_team700

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    18% GST would be applicable on works contract.

    Input tax credit shall not be available in respect of the works contract services when supplied for construction of immovable property,(other than plant and machinery), except where it is an input service for further supply of works contract service.

    i.e. credit of GST paid on works contract services will be allowed only if the output is also works contract services.

     

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    What is the provision of GST on construction services and also provide solutions for ITC on it?

    • taxclinic_team700

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      Construction of a complex, building, civil structure or a part thereof, intended for sale to
      a buyer, wholly or partly (the value of land is deemed to be one-third of the total amount
      charged for such supplies) –12% GST would be applicable with full ITC.
       18% GST would be applicable on Composite supply of Works contract as defined in clause 119 of section 2 of CGST Act
       you will take ITC on your input taxable materials or other supplies.

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