WebNov 29, 2024 · CBIC has recently announced an increase in the GST rates on different textiles, garments & footwear from 5% to 12%, effective from January 1, 2024. 9870310368 8860712800. Advisory & Audit. ... According to the notice, the works contract service that will attract 18% GST will involve principally earthwork (which accounts for more than … WebDec 21, 2024 · GST surge with 18% for the government contracts shall come into compliance in January 2024 and might influence the infra projects and maintenance of …
Changes in GST rates effective from 1st January 2024
WebSub-contractor of a sub-contractor is not eligible for concessional GST rate under Notification No.11/2024- CT(R): AAR. Sub-contractor of ampere sub-contractor is not … WebJan 4, 2024 · The key changes haven been sought to be summarized for ready reference below. Salient Changes 1. Input credit related amendment 2. Amendment vis a vis definition of 'supply' under GST 3. GST exemption/concession withdrawal vis a vis specified infrastructure/EPC projects 4. Amendments further enhancing enforcement powers of … av tortosa 4 lleida
Guj AAR: 12% GST Rate for the Work Contract Services from 25 …
Webtender documents/ contracts. Hike in GST rate as Change-in-Law: W.r.t. RE power projects, wherein the last date of bid submission was on or before September 30, 2024, i.e. on or before Page 1 of 2 . 5. the issuance of notification regarding increase in GST rate for specified renewable energy devices and parts for their manufacture from 5% to 12 ... WebFeb 8, 2024 · Further held that, if the Applicant is engaged in supply of works contract services involving predominantly earth work i.e. constituting more than 75 per cent of the value of the works contract, to Indian Railways, it is covered under Sl. No. 3(vii) of the Services Rate Notification and is exigible to GST at 12% and that if the Applicant is ... WebUnder the current GST system, works contracts are levied at three different rates: 5%, 12%, and 18%. Initially, a GST rate of 18 percent was notified for works contract services. Various notifications have been issued announcing the various works contract rate under GST for different circumstances wherein work contract services are available. av total kostenlos