WebNotification No. 50/2024 – Central Tax When TDS needs to be deducted The central or state government may mandate the following enterprises to deduct TDS at the rate of 2% (1% SGST +1% CGST) from the payment made or credited to a supplier for the taxable supplies of value greater than Rs. 2.5 lakh. Web12 hours ago · Jaipur: The public works department (PWD) contractors' associations of Rajasthan have decided to boycott all tenders protesting the hike in GST (Goods and Services Tax) rate of contract building works which has been increased from 12% to 18%.
Circular No. 164 /20 /2024-GST CBIC-190354/207/2024-TO …
WebAdjustment on account of change in the rate of GST effective from the date prescribed by the GST authority in agreements drawn on or before the date prescribed by the GST authority ... Increase in GST rate of Works Contracts for Central Government, State Government, Union Territory and a Local Authority ... Deduction of TDS under GST on … WebNov 29, 2024 · Such basic commodities will be taxed at 12% beginning from January 1 next year, rather than numerous tax rates ranging from 5% to 18%. Works contract services On November 18, the government announced that beginning in January 2024, government agencies will charge an 18% GST on works contract services. diagram of discs in spine
12% GST to be charged by Sub-Contractor to main Contractor …
WebDec 31, 2024 · Now, those specified works contract services which have been excluded from the reduced tax rate entry of GST @5%/12% w.e.f 01.01.2024 will be taxable at residual tax rate @18% under entry 3 (xii) of tax rate notification no 11/2024- CT (R). WebSep 6, 2024 · to deduct Tax Deducted at Source (TDS) @2% (1% each for CGST and SGST or 2% for IGST) from the payments made or credited to the supplier of taxable … WebMar 1, 2024 · As a general rule, pure employment contracts incur a GST of 18%, unless exempted. A person working as a GOVT contractor. He did 3 types of work 1 complete work include – pure work 2 50% work include in the total work 3. 75% work include in the total work, what are the tax implications of 3 cases I am treasurer of cooperative hsg soc, … diagram of dishwasher drain