https://www.taxtmi.com/forum/issue?id=119293 Where contract receipts are inclusive of GST and the contractor bears the tax, Rule 35 prescribes decomposing the gross inclusive amount to determine taxable value and tax: tax = (value inclusive x tax rate) / (100 + tax rate). Taxpayers should report the net-of-tax turnover in GSTR 3B and pay GST on that computed taxable value, and must reconcile GSTR 7/TDS entries with contracts, work bills and payment records to substantiate the reported figures when challenged. en-us Mon, 09 Sep 2024 13:35:26 +0530 Fri, 24 Jan 2025 10:40:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119293 Where contract receipts are inclusive of GST and the contractor bears the tax, Rule 35 prescribes decomposing the gross inclusive amount to determine taxable value and tax: tax = (value inclusive x tax rate) / (100 + tax rate). Taxpayers should report the net-of-tax turnover in GSTR 3B and pay GST on that computed taxable value, and must reconcile GSTR 7/TDS entries with contracts, work bills and payment records to substantiate the reported figures when challenged. Discussion-Forum GST Mon, 09 Sep 2024 13:35:26 +0530 https://www.taxtmi.com/forum/issue?id=119293