Contractor quoting for Govt Works Contract

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..... Contractor quoting for Govt Works Contract
Query (Issue) Started By: - MELVIN KOSHY Dated:- 24-8-2017 Last Reply Date:- 24-8-2017 Goods and Services Tax - GST
Got 1 Reply
GST
Assume a Con .....

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..... tractor 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 D .....

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..... ISCOUNT (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% .....

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..... towards 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.
Discussion Forum - Knowledge Sharing .....

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