TaxTMI 
TaxTMI 
Contractor quoting for Govt Works Contract
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....ontractor quoting for Govt Works Contract<br> Query (Issue) Started By: - MELVIN KOSHY Dated:- 24-8-2017 Last Reply Date:- 24-8-2017 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>Assume a Cont....
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....ractor who is quoting for a Govt. Dept Work. An illustration on arriving at final rate of an item by a Contractor for an item to be quoted in price bid is as follows BASIC PRICE (A) Subtract DI....
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....SCOUNT (B) Add TRANSPORTATION (C) Add PROFIT (D) Add GST at 18% on (A+B+C+D) = (E) TOTAL (F) = A+B+C+D+E Amount quoted by Contractor in price bid = F As we know, Govt. Dept will incur 12% t....
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....owards GST on Works Contract offered by the Contractor. Whether Contractor will add 12% to the above value (F) and put his quote in the price bid? Please give your thoughts Reply By KASTURI SETHI: ....
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....The Reply: No. Any tax cannot charged twice for same supply of goods or services.<br> Discussion Forum - Knowledge Sharing ....