Contract Terms Revised for GST Rate Hike to 12%; Respondent Board to Bear Tax Liability, New Agreement Required in 8 Weeks.

Contract Terms Revised for GST Rate Hike to 12%; Respondent Board to Bear Tax Liability, New Agreement Required in 8 Weeks. https://www.taxtmi.com/highlights?id=58238 Scope of the Contract - Deduction at source towards GST - Impact of increase rate of GST as 12% from existing tax as 2% or 5% - The tax liability will have to be borne by the respondent Board. The respondents are directed to rework the terms of the contract and enter into a revised agreement with the petitioner. The entire exercise shall be concluded within a period of eight weeks from the date of receipt of a copy of this order. - HC en-us Thu, 03 Jun 2021 14:57:26 +0530 Thu, 03 Jun 2021 14:57:26 +0530 TaxTMI RSS Generator Contract Terms Revised for GST Rate Hike to 12%; Respondent Board to Bear Tax Liability, New Agreement Required in 8 Weeks. https://www.taxtmi.com/highlights?id=58238 Scope of the Contract - Deduction at source towards GST - Impact of increase rate of GST as 12% from existing tax as 2% or 5% - The tax liability will have to be borne by the respondent Board. The respondents are directed to rework the terms of the contract and enter into a revised agreement with the petitioner. The entire exercise shall be concluded within a period of eight weeks from the date of receipt of a copy of this order. - HC Highlights GST Thu, 03 Jun 2021 14:57:26 +0530 https://www.taxtmi.com/highlights?id=58238