Gst on work contracts

[Ravinder Gupta]

Plz tell: what will be the rate of GST on work contracts? will it will be applicable on already ongoing works (started before GST)

AI Summary

GST for Work Contracts: 12% Rate, Transitional Rules for Pre-GST Projects, Exemptions for Government Services Discussed A discussion on the Goods and Services Tax (GST) for work contracts raised questions about applicable rates and the impact on ongoing projects initiated before GST implementation. Contributors clarified that work contracts are categorized as services with an 18% GST rate, although transitional provisions for ongoing contracts were still under consideration. There were inquiries about the applicability of GST on contracts awarded before GST, tax deduction at source (TDS) under GST, and exemptions for government agencies. It was noted that GST for work contracts was reduced to 12%, with specific exemptions and conditions for government-related services.