https://www.taxtmi.com/article/detailed?id=11559 Guidelines require assessing pre GST payments and works under the KVAT regime and separately calculating balance works after GST commencement. For materials completing balance works, deduct KVAT and applicable service tax, add applicable GST, and determine input credit to set off against output GST. The computed tax difference on the contract value determines whether the agreement should be amended; if the revised GST inclusive value for balance works exceeds the original contract value, the employer must pay or reimburse the differential tax amount to the contractor, and employers likewise must reimburse differential tax where pre GST works were paid post GST. en-us Sat, 01 Jul 2023 08:59:23 +0530 Sat, 01 Jul 2023 08:59:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11559 Guidelines require assessing pre GST payments and works under the KVAT regime and separately calculating balance works after GST commencement. For materials completing balance works, deduct KVAT and applicable service tax, add applicable GST, and determine input credit to set off against output GST. The computed tax difference on the contract value determines whether the agreement should be amended; if the revised GST inclusive value for balance works exceeds the original contract value, the employer must pay or reimburse the differential tax amount to the contractor, and employers likewise must reimburse differential tax where pre GST works were paid post GST. Articles Goods and Services Tax - GST Sat, 01 Jul 2023 08:59:23 +0530 https://www.taxtmi.com/article/detailed?id=11559