https://www.taxtmi.com/article/detailed?id=6418 Transitional treatment of ongoing service contracts at GST introduction demands explicit contractual allocation of GST, contemporaneous evidence of work completed pre GST, and pre GST invoicing where possible to preserve input tax credits. Service providers should document inventory and taxes paid, file stock declarations, reconcile accounting with tax returns, and, for exports or exempt services losing preferential treatment, amend agreements and seek refunds of accumulated credits. Works contracts require clear specification of tax components, completion certificates, registered supplier invoices, and detailed reconciliations to secure credit recovery and protect margins in the merged GST supply regime. en-us Wed, 02 Sep 2015 07:43:36 +0530 Wed, 02 Sep 2015 07:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6418 Transitional treatment of ongoing service contracts at GST introduction demands explicit contractual allocation of GST, contemporaneous evidence of work completed pre GST, and pre GST invoicing where possible to preserve input tax credits. Service providers should document inventory and taxes paid, file stock declarations, reconcile accounting with tax returns, and, for exports or exempt services losing preferential treatment, amend agreements and seek refunds of accumulated credits. Works contracts require clear specification of tax components, completion certificates, registered supplier invoices, and detailed reconciliations to secure credit recovery and protect margins in the merged GST supply regime. Articles Goods and Services Tax - GST Wed, 02 Sep 2015 07:43:36 +0530 https://www.taxtmi.com/article/detailed?id=6418