Blogs

Introduction:

Joint development agreement (JDA) is an agreement entered between the landowner and the developer wherein the landowner would provide the right to the developer to develop the land, in return for construction services to be provided by the developer.The developer would be entitled for a share in the developed property(generally allotted through supplementary agreement (SA))in return for such construction services. Without getting into whether GST is liable or not on these...

On the introduction of GST, the credit of taxes under the existing law, predominantly Central Excise, Service Tax and Value Added Tax, was allowed to be carry forwarded vide the transitional provision either as Central Goods and Service Tax (CGST) or State Goods and Service Tax (SGST) as the case may be accordingly taxpayers did carry forwarded the credit by filing transactional credit by filing Form TRAN -01. The common observation of the department during the transitional credit...

Introduction: Initially, restaurant services were liable to 18% GST. Subsequently, at the 23^rd GST Council meeting on 10.11.2017 held at Guwahati, it was recommended that all standalone restaurants, irrespective of whether air conditioned or not, will attract 5% GST without ITC. To give effect to such decision, a notification No. 46/2017- Central Tax (Rate) dated 15.11.2017 was issued, as per which the GST rate applicable to services provided by restaurants, eating joint including mess,...