https://www.taxtmi.com/forum/issue?id=116201 Contract price tendered as a tax-inclusive lump sum is to be treated as the transaction value for GST; deductions such as TDS and income tax are not deductible from that transaction value when computing GST. The taxable value is extracted from the inclusive gross by grossing down for the applicable GST rate, and GST is computed on that extracted pre-tax value. Debates remain about whether labour cess and similar levies form part of the transaction value, and amounts identified as royalty may attract GST under the reverse charge mechanism. en-us Sun, 12 Apr 2020 20:20:31 +0530 Thu, 23 Jan 2025 15:54:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116201 Contract price tendered as a tax-inclusive lump sum is to be treated as the transaction value for GST; deductions such as TDS and income tax are not deductible from that transaction value when computing GST. The taxable value is extracted from the inclusive gross by grossing down for the applicable GST rate, and GST is computed on that extracted pre-tax value. Debates remain about whether labour cess and similar levies form part of the transaction value, and amounts identified as royalty may attract GST under the reverse charge mechanism. Discussion-Forum GST Sun, 12 Apr 2020 20:20:31 +0530 https://www.taxtmi.com/forum/issue?id=116201