i) Is it correct to structure agreement by fixing the land cost by absorbing the development charges? ii) Whether the ITC availed has to be paid back on pro rata basis, on plots sold after completion?
i) Supply of works contracts awarded by Government attracts 12% GST. ii) Supply of works contracts awarded by the Central University of Kerala attracts 12% GST. and iii) Supply of work awarded by M/s. HLL Infra Tech Services Ltd. for the construction of Biotech lab and administrative block at Life Science Park, Trivandrum attracts 18% GST.
Akshar Developers Vs ACIT (Bombay High Court) It is alleged in the reasons that the petitioner had failed to disclose the aforesaid bank account during the assessment proceedings. The petitioner had filed its objections by letter dated 23rd May, 2017 to the reasons inter-alia pointing out that during the course of assessment proceeding, the petitioner […]
Government of India Ministry of Finance (Department of Revenue) New Delhi Notification No. 70/2018- Customs Dated: 26th September, 2018 G.S.R. 930(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, hereby makes the following amendment in the notification of the Government of India in […]
Input tax paid on purchase of goods used for demonstration purpose to customer can be availed as input tax credit on capital goods and set off against output tax payable under GST
Government of India Ministry of Finance (Department of Revenue) New Delhi Notification No. 69/2018- Customs Dated: 26th September, 2018 G.S.R. 929(E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, […]
CBIC increases Standard Rate of Custom Duty on Cut and polished coloured gemstones, Diamonds including lab grown diamonds-semi-processed, half-cut or broken and Non-industrial diamonds including lab-grown diamonds (other than rough diamonds) from 2.50% to 7.50% vide Notification No. 68/2018- Customs, Dated: 26th September, 2018 Government of India Ministry of Finance (Department of Revenue) New Delhi Notification […]
Tariff measures taken to curb the imports of non-essential items 1. The Central Government has taken tariff measures, by way of increase in the basic customs duty, to curb import of certain imported items vide Notification No. 67/2018- Customs Dated: 26th September, 2018. . These changes aim at narrowing the current account deficit (CAD). 2. In all the […]
CBIC extends the exemption from Integrated Tax (IGST) and Compensation Cess upto 31.03.2019 on goods imported against AA/EPCG authorizations vide Notification No. 66/2018- Customs, Dated: 26th September, 2018
Central Government hereby notifies for the purposes of the said clause, ‘Chhattisgarh State Electricity Regulatory Commission’, Raipur, a Commission constituted by the Government of Chhattisgarh, in respect of the following specified income arising to that Commission, namely:—
