GST

1. Contractors should raise running account bills for the work done till 25.06.2017 before 06.2017, so the impact of GST @18% can be avoided, but contractor should take receiving of bills submitted to the contractee (client of the contractor) for his record.

2. If any Advance payment has been received from contractee (client of the contractor) before 30.06.2017 then Contractor should pay Service tax @6% to avoided impact of GST @18%. In case the project is exempted under notification no. 25/2012(service tax) than in such case service tax shall not be payable. However it very important to show exempted/Taxable Work Contract service in ST-3 return (April 2017 to June-2017)