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Kuldeep Kulkarni

Latest Posts by Kuldeep Kulkarni

GST Registration – Unregistered Rent Agreement – A statutory analysis

January 3, 2023 28872 Views 0 comment Print

GST Registration can be rejected due to an unregistered rent agreement? Get insights into a statutory analysis on the matter with this blog post. Keyphrase: GST Registration – Unregistered Rent Agreement – A statutory analysis.

GST: Interest on differential output liability declared in subsequent months

December 14, 2022 12321 Views 0 comment Print

Proviso to section 50(1) allows taxpayer to pay interest on cash portion of his delayed payment. An exception is carved out that interest is payable on gross amount if return is filed after initiation of proceeding by Department u/s 73 or 74.

Penalty on ITC under GST availed but not utilized

October 8, 2022 82860 Views 5 comments Print

Recently, section 50 of the CGST Act was amended retrospectively from 1.7.2017 to provide that interest will be charged on ITC wrongly availed and utilized. Prior to the amendment, interest was chargeable on ITC wrongly availed or utilized. Thus, interest was chargeable on ITC wrongly availed but not utilized.

Need for GST exemption to development rights used in commercial units in RREP

August 28, 2021 10848 Views 0 comment Print

Background – Development Agreement In apartments construction business, it is a usual practice that the land owner transfers development rights in the land to a promoter. In consideration, the promoter allots constructed units to the land owner. The promoter constructs some extra units and sells the same. The Land owner, thus sells (transfers) development rights […]

Vexed Issue of GST on services by director to company

September 30, 2019 9525 Views 1 comment Print

In the erstwhile service tax regime as well as in GST regime, the services provided by director to company are liable to service tax / GST under reverse charge. It is the company who has to pay the service tax / GST and not the director. Relevant legal provisions are given below: Service Tax:  Notification […]

Central excise demands on Industrial Promotion Subsidy received under PSI 2007

February 20, 2017 5943 Views 1 comment Print

Recently, the central excise department has started issuing SCNs for recover of central excise duty on the Industrial Promotion Subsidy received by assessees in Maharshtra state.

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