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of <h1>GST Simplifies Works Contracts: Treated as Supply of Services for Immovable Properties, Standardized Tax Rates Across India</h1> A works contract under GST is defined as a contract for services related to immovable property, including construction, installation, and maintenance, involving the transfer of goods. Previously, works contracts were taxed under both VAT and Service Tax, leading to complexities. GST simplifies this by treating works contracts as a supply of services, applicable only to immovable properties, and standardizes the tax rate across India. Input Tax Credit is restricted to those further supplying works contract services. The GST rate varies based on the type of service and recipient, with specific provisions for valuation and place of supply.
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