It is a common notion that the sale of land is out of the purview of GST. However recent rulings held by different AAR holding the levy of GST on sale of plots has sparked a row amongst tax professionals and Builder’s association about legal tenability of such rulings. While trade bodies fear of opening […]
MSME plays an important role in our economy. This sector contributes significantly to the Indian Economy in terms of Gross Domestic Product (GDP), Exports and Employment generation. Understanding its difficulties, RBI from time to time has come out with host of measures to provide relief to this sector. The key important RBI circulars are as […]
The Statutory Auditors may consider the following exercise to dig out the hidden accounts which are shown as Standard but are required to be classified as NPAs.
‘A’ is an entrepreneur from Gujarat. His Company owns a Five Star Hotel, Marriage Garden & a Convention Centre in M.P. As the GST is still at nascent stage, he has following three queries: Query No. 1: Hotel is having different categories of rooms. The tariff of Executive Room is Rs.10000.00 per night over which […]
