Contractors Are Liable To Pay GST At Rate Prevalent On Day Of Receipt Of Tender, Not When Work Is Allotted : Jammu and Kashmir High Court

In a pivotal ruling, the Jammu & Kashmir High Court has clarified that the applicable Goods and Services Tax (GST) rate for contractors is to be determined based on the rate prevalent on the last date for submission of tenders, not when the work is actually allotted or executed. This interpretation comes in light of Special Condition No.49 present in the contract agreements. Court Upholds Contractual Terms Over CGST Section…