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Project costs may increase owing to GST credit restrictions in many sectors

Project costs may increase owing to GST credit restrictions in many sectors

The Model GST Law specifically treats a ´works contract´ (including any transfer of property in goods in the execution of such contract) as a ´service´. However, determining the nature of a particular agreement, or a set of agreements, for a project (i.e., whether it qualifies as a works contract or not) would still be critical from the perspective of the place of supply, the taxable value, the applicable rate of tax and the compliances to be undertaken given the peculiar and varied nature of arrangements in the infrastructure sector, involving multiple scopes of work and multiple participants (consortium) for either a full project or for parts of a single project.

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Ashoka Buildcon, Bhartia Infra consortium bags road project

Ashoka Buildcon, Bhartia Infra consortium bags road project

Ashoka Buildcon Ltd along with Bhartia Infra Projects Limited (consortium) had bid for the project viz. two laning of Pasighat - Mariyang - Yingkiang (NH 513) from Singer river to Sijon river section 19.880 km to 43.257 km (length 23.777 km) in Arunachal Pradesh under Arunachal Pradesh package of SARDP-NE on EPC basis issued by National Highways Infrastructure Development Corporation Limited (NHIDCL).