GST

Availability of Composition Scheme to Works Contractors

Simply put, a works contract is essentially a contract of service which may also involve supply of goods in the execution of the contract. It is basically a composite supply of both services and goods, with the service element being dominant in the contract between parties. In a general sense, a contract of works, may relate to both immovable and immovable property.

Contents

Availability of Composition Scheme to Works Contractors Example Availability of Composition Scheme to Works Contractors Composition Scheme for Services:जीएसटी अपडेट (हिन्दी) मासिक पत्रिका for Any Query and Complaint Call- 08386982822, and Send What’s App Message-08386982822, 08114437536 E- Mail ID- legaltaxguru.com@gmail.com, Subscription Rates (Hindi)YEAR PRICE Click For Subscription (After Payment Send Receipton What’s App Number- 8386982822 )1 Year 300/-Subscribe 2 Year 500/-Subscribe Download Free (Hindi)Download मासिक पत्रिका सितंबर-2021 Use Password:-Ltgsephindi21 Subscription Rates (English)Download Free (English)

Example

if a sub-contractor, undertakes a sub-contract for the building work, it would be a works contract in relation to immovable property. Similarly,
if a composite supply in relation to movable property such as fabrication/painting/annual maintenance contracts etc. is undertaken, the same would come within the ambit of the broad definition of a works contract.

Availability of Composition Scheme to Works Contractors

Composition scheme is available to works contractors from April 2019 provided turnover is up to Rs.50 lakhs. Earlier, the composition scheme was not available to service providers and was open to only available to suppliers of goods under GST Law.

With the composition scheme extended to service providers, small service providers can benefit.

Composition Scheme for Services:

A Composition Scheme shall be made available for Suppliers of Services (or Mixed Suppliers) with a Tax Rate of 6% (3% CGST +3% SGST) having an Annual Turnover in the preceding Financial Year up to Rs 50 lakhs The said Scheme Shall be applicable to both Service Providers as well as Suppliers of Goods and Services, who are not eligible for the presently available Composition Scheme for Goods.

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for Any Query and Complaint Call- 08386982822, and Send What’s App Message-08386982822, 08114437536 E- Mail ID- legaltaxguru.com@gmail.com,

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PRICE

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(After Payment Send Receipt
on What’s App Number- 8386982822 )

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YEAR	PRICE	Click For Subscription (After Payment Send Receipt on What’s App Number- 8386982822 )
1 Year	250/-	Subscribe
2 Year	450/-	Subscribe

Download Free (English)

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