Explore construction activities exempt from GST, including sale of land, ready-to-move flats, and resale properties. Understand provisions of CGST Act, 2017 Schedule II and III. Stay informed to avoid unnecessary tax implications.
Understanding the financial hardship of blocking ITC under Rule 86(A) for taxpayers. Learn about the implications and challenges faced by taxpayers in this scenario.
Understanding the recent ruling on blocking Input Tax Credit (ITC) under Rule 86A by the GST department. Learn more about the implications and legal considerations.
Input tax credit shall be allowed in case of genuine transactions made before the cancellation of GST registration. ITC cannot be denied on genuine transaction with suppliers whose GST registration was cancelled after transaction.
Please note that ITC once availed as per Section 16 (Rules thereto i.e. 36) is credited to Electronic Credit ledger of the registered person and can be utilized for payment towards output tax as provided in Section 49 of the CGST Act, 2017 subject to the conditions and restrictions mentioned in Rule 86A & 86B.
Understanding Income Tax implications in unregistered Joint Development Agreements (JDA). Explore the tax challenges pre-Finance Act 2017 and the impact of Section 45(5A) introduced to ease hardships for landowners. Stay informed on taxation aspects in property development.
Understanding the grounds of challenge in case of a vague show cause notice under GST. Learn about the importance of a proper notice under Section 74 of the CGST Act.
Uncover instances of the misuse of Section 10 of the Insolvency and Bankruptcy Code (IBC) by Corporate Debtors with the intention to defraud stakeholders. Explore legal considerations, penalties under Sections 65 and 66, and NCLT’s discretion in such cases. Stay informed on protecting creditor rights.
SC held that the Sale Certificate is merely the evidence of such title and the Auction Purchaser derives title on confirmation of sale in his favour and a Sale Certificate is issued evidencing such sale and title and no further deed of transfer from the Court is contemplated or required.
Unlocking the intricacies of Section 16(2)(aa) under CGST Act: Learn the critical conditions for availing Input Tax Credit (ITC). Explore the impact of the recent Finance Act, 2021 amendment and the significance of Rule 36(4).
