Blogs

GST rate increase for Government projects (works contracts) – impact & way forward:

• CA. Venkat Prasad. P

Introduction & Background:

Construction industry plays an important role in the development of any country. It is a large sector of Economy of about Rs. 37 lakh crores (as per national accounts statistics, 2019-20). The construction industry in India consists of the Real estate as well as the infrastructure development segment. The Real estate segment consists of...

In order to accommodate new changes in the law and new disclosure requirements, the present GSTR-3B may see some changes soon, as specifically mentioned in the press release of the 47^th council meeting. A revised GSTR-3B form may be put up in the public forum for comments and suggestions. However, seeing that the process to revamp GSTR-3B may be tedious and time consuming, some changes in the Form have been introduced w.e.f 5^th July 2022 vide NN 14/2022-CT along with clarity provided through...