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VAT & GST Impact on EPC Contracts

Under the composite scheme of VAT assessment: 1. The document provides details of a contract including the name of the contractor, gross original value, payments made pre and post GST, and the balance remaining. 2. It breaks down the original contract value and shows the cost of various project constituents like bitumen, steel, cement, etc. both pre and post GST. 3. GST implications for the balance work are calculated by applying the appropriate GST rates to individual project components. The total cost under GST is higher than the original cost, resulting in excess cost.

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295 views2 pages

VAT & GST Impact on EPC Contracts

Under the composite scheme of VAT assessment: 1. The document provides details of a contract including the name of the contractor, gross original value, payments made pre and post GST, and the balance remaining. 2. It breaks down the original contract value and shows the cost of various project constituents like bitumen, steel, cement, etc. both pre and post GST. 3. GST implications for the balance work are calculated by applying the appropriate GST rates to individual project components. The total cost under GST is higher than the original cost, resulting in excess cost.

Uploaded by

ghaghra bridge
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Under Composite Scheme of VAT Assessment Annexure-I

1 Project/ Contract details (EPC Contracts)

Contract
Agreement
Number
Name of the Contractor/ Name of the
Concessionaire Project

GST No. Date Bill No.


State Date:
2 Payment Details
a b c d e f g h
Pre-GST Regime GST Regime
Gross Original Value of the Price variation Value of Services Payments claimed upto 30.6.2017- Payments claimed Bal. payments to Balance Remarks
Contract upto 30.6.2017 rendered upto original contract price upto 30.6.2017-Price be made after Services to
30.6.2017 as per Variation 01.07.2017 for be rendered-
original contarct services original
rendered upto
contract
30.06.2017.
(c+b-d-e) Price

100,000 1,000 65,000 45,000 750 20,250 35,000


3

Gross Original Value


Project Constituents Percentage Percentage Pre-GST Percentage Post-GST
of the ContractTotal

a Gross Value of Contract - 100,000 - 65,000 - 35,000


b Less:-Output Vat 5.25% 5,250 3,413 1,838
c Cost plus Margin (a-b) 94,750 61,588 33,163
d Less : Margin 10% 8,614 - 5,599 - 3,015
e Cost of the Project (c-d) 86,136 - 55,989 - 30,148
f Components of the Projects
i Bitumen 17% 14,643 4% 2,489 40% 12,154
ii Steel 8% 6,891 7% 4,000 10% 2,891
iii Cement 5% 4,307 4% 2,500 6% 1,807
iv Aggregates, Sand etc 16% 13,782 21% 12,000 6% 1,782
v Pipes 1% 861 1% 300 2% 561
vi Oth. Materials 1% 861 1% 500 1% 361
vii HSD 17% 14,643 23% 13,000 5% 1,643
viii Labour 35% 30,148.36 38% 21,199.64 30% 8,949
Cost of the Project 100% 86,136 100% 55,989 100% 30,148

Value of Output
GST Implications (For balance Excise VAT/CS Output Cost incl. GST GST Total Cost Excess cost Excess Impact
4 % Component Item in GST @
work) duty % T VAT Taxes rate Amount under GST due to GST due to GST (%)
Cost 12%

Cost of the Project - - - 30,148 - - - -


i Bitumen 31% 7,787 21% 29% 12,154
ii Steel 10% 2,503 10% 5% 2,891
iii Cement 6% 1,578 6% 8% 1,807
iv Aggregates, Sand etc 7% 1,782 0% 0% 1,782
v Pipes 2% 550 1% 1% 561
vi Oth. Materials 1% 350 1% 2% 361
vii HSD 7% 1,643 0% 0% 1,643
viii Labour 36% 8,949 0% 0% 8,949
Cost of the Project 100% 25,142 30,148 -3464 -9.90%

5 Billing Pattern Notes :


1 The cells in Green are for input
Value of the work done by the 2 The correct rate of taxes for Excise,CST,VAT are to be entered.
Contract 35,000
Less : factored in Taxes 6,843 3 The rates for VAT/Output VAT are as may be applicable for respective states
Adjusted Value of Work done 28,157 4 The issue of closing stocks are not considered due to complexities involved
5 The Components & Taxes are indicative/notional. It has to be project specific and
Add GST (on Adjusted value of may change accordingly
work done which includes
Profit Margin also) 12% 3,379

Amount Claimed 31,536

Authority Engineer Contractor Project Director


NHAI
Under Regular Scheme of VAT Assessment Annexure-I
1 Project/ Contract details (EPC Contracts)

Contract
Agreement
Number
Name of the Contractor/ Name of
Concessionaire the Project

GST No. Date Bill No.


State Date:
2 Payment Details
a b c d e f g h
Pre-GST Regime GST Regime
Gross Original Value of the Price variation Value of Services Payments claimed upto 30.6.2017- Payments claimed upto Bal. Balance Remarks
Contract upto 30.6.2017 rendered upto original contract price 30.6.2017-Price Variation payments to Services to
30.6.2017 as per be made be
original contarct after rendered-
01.07.2017
original
for services
rendered contract
upto Price
30.06.2017.
(c+b-d-e)

100,000 1,000 65,000 45,000 750 20,250 35,000


3
Gross Original
Project Constituents Percentage Value of the Percentage Pre-GST Percentage Post-GST
ContractTotal

a Gross Value of Contract - 100,000 - 65,000 - 35,000


Less : Labour and allied charges
b (refer Point no 6 in Notes) 25.00% 25,000 16,250 8,750
c Taxable Value for VAT ( a-b ) 75,000 48,750 26,250
Less: Output VAT (refer Point no 7
d in Notes) 12.50% 8,333 5,417 2,917
e Cost plus Margin (a-d) 91,667 59,583 32,083
f Less : Margin 10% 8,333 - 5,417 - 2,917
g Cost of the Project (c-d) 83,333 - 54,167 - 29,167
h Components of the Projects
i Bitumen 13% 10,830 7% 4,000 23% 6,830
ii Steel 8% 6,891 7% 4,000 10% 2,891
iii Cement 5% 4,307 5% 2,500 6% 1,807
iv Aggregates, Sand etc 17% 13,782 17% 9,000 16% 4,782
v Pipes 1% 861 1% 300 2% 561
vi Oth. Materials 1% 861 1% 500 1% 361
vii HSD 18% 14,643 22% 12,010 9% 2,633
viii Labour 37% 31,158.33 40% 21,856.67 32% 9,302
Cost of the Project 100% 83,333 100% 54,167 100% 29,167

Cost incl.
Value of Excise Excise Excess Excess
GST Implications (For balance VAT VAT/CST Output (ED ,Input GST Output Total Cost
4 % Component Item in duty duty GST rate cost due Impact due
work) (in Rs) (in %) VAT Vat and Amount GST @ 12% under GST
Cost (in Rs) (in %) to GST to GST (%)
Output Vat)

Cost of the Project - - - 29,167 - - - -


i Bitumen 17% 4,376 919 21% 1,535 29% 6,830
ii Steel 10% 2,503 250 10% 138 5% 2,891
iii Cement 6% 1,578 95 6% 134 8% 1,807
iv Aggregates, Sand etc 18% 4,782 0 0% 0 0% 4,782
v Pipes 2% 550 5 1% 6 1% 561
vi Oth. Materials 1% 350 4 1% 7 2% 361
vii HSD 10% 2,633 0 0% 0 0% 2,633
viii Labour 36% 9,302 0 0% 0 0% 9,302
Cost of the Project 100% 26,074 1,273 1,820 29,167 -492 -1.41%
5 Billing Pattern Notes :
1 The cells in Green are for input
Value of the work done by the 2 The correct rate of taxes for Excise,CST,VAT are to be entered.
Contract 35,000
Less : factored in Taxes 4,190 3 The rates for VAT/Output VAT are as may be applicable for respective states
Adjusted Value of Work done 30,810 4 The issue of closing stocks are not considered due to complexities involved
5 The Components & Taxes are indicative/notional. It has to be project specific and may change
Add GST (on Adjusted value of
work done which includes Profit
Margin also) 12% 3,697

Amount Claimed 34,508


6 Labour and allied charges Cell as per the details given below:-
a) If it is in percentage (%) , enter the percentage (%) in Cell no. C15
b) If it is based on absolute value, Justify the Absolute value in a separate sheet and put the value in
Cell No. D15 (Calculation sheet to be enclosed)
7 Output VAT as per the details given below:-
a) If it is in percentage (%) , enter the percentage(%) in Cell no. C17
b) If it is based on input used, calculate in a separate sheet, put the value in Cell No. D17 (Calculation
sheet to be enclosed)

Authority Engineer Contractor Project Director


NHAI

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