GST - ITC on the construction of immovable properties – Orissa High Court

  • Category: GST
  • Date: 27-05-2019
  • Writers: CA Madhukar N Hiregange, CA Venkata Prasad


Practical Guide on new Scheme of Taxation for Real Estate

  • Category: sector specific
  • Date: 29-04-2019
  • Writers: CA Ashish Chaudhary, CA Roopa Nayak, CA Sudhir VS

PREFACE 

The transactions in the real estate sector have their own peculiarities and thereby one has always felt the need for having a separate set of provisions that would be more specific to this sector rather than the general provisions that would be applicable to any other sector. This need was felt right from the sales tax ( later VAT) as well as in service tax regime.  
However, with the series of changes that have been made effective from 1st April, 2019 it can be seen that the...

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Practical Guide on new Scheme of Taxation for Real Estate - updated

  • Category: GST
  • Date: 29-04-2019
  • Writers: CA Ashish Chaudhary, CA Roopa Nayak, CA Sudhir VS

Note on analyzing whether vendors can be suggested to opt for the new scheme for paying tax @ 6% under GST

  • Category: Levy and supply
  • Date: 27-04-2019
  • Writers: Monika Motta, CA Shilpi Jain

Introduction: To ease out the GST compliances for the MSME sector, the Government has introduced a new scheme of tax for the suppliers of goods or services who are not covered under the existing composition scheme u/s 10 of the CGST Act, wherein the GST shall be discharged at a flat rate of 6% and annual returns need to be filed with monthly payment of taxes. This scheme could be recommended to the vendors of registered persons who are not in a position to avail ITC for various reasons,...

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Designs or Specifications – Excise Duty trauma for the automotive industry

  • Category: sector specific
  • Date: 23-04-2019
  • Writer: Manish Sachdev

The days of Central Excise Duty (ED) are over[1], a cool and exquisite tax it was. Make no mistake about it, half of the Goods and Service Legislation’s learnings are down to the Central Excise Act, 1944 and its sub-ordinate rules. Revenue’s audits and investigations would be more of a dead letter, for the better part the maximum period of inventing new avenues of generating demands (outta nowhere) expires on 10th July 2022. Some things never changes though, DG-CEI (now known by its...

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Practical Guide on new scheme of taxation for real estate under GST

  • Category: sector specific
  • Date: 10-04-2019
  • Writers: CA Ashish Chaudhary, CA Roopa Nayak, CA Sudhir VS

The transactions in the real estate sector have their own peculiarities and thereby one has always felt the need for having a separate set of provisions that would be more specific to this sector rather than the general provisions that would be applicable to any other sector. This need was felt right from the sales tax ( later VAT) as well as in service tax regime. 

However, with the series of changes that have been made effective from 1st April, 2019 it can be seen that the step in...

Read more