Goods and Services Tax : Introduction In the case of construction projects, it is common to enter into development agreements where the developer undertake...
Goods and Services Tax : Notification No. 4/2018-Central Tax (Rate), dated 25th January, 2018 has clarified taxability of development rights under redevelo...
Goods and Services Tax : Recent GST Council meeting decisions under which, were announced in the press conference by the Finance Minister on 06.10.2017, pr...
Goods and Services Tax : Articles deals with following issues related to GST which needs to be taken care of immediately before roll out date of GST 1. HSN...
Goods and Services Tax : Following measures can be adopted to curb the practice of undisclosed turnovers in the GST law. 1. Discouraging Without Bill Sales...
Introduction In the case of construction projects, it is common to enter into development agreements where the developer undertakes to develop property (residential / commercial) in exchange for the development rights given by landlord. Consideration for such development rights is determined based on some agreed ratio of constructed area or in terms of specific number […]
Notification No. 4/2018-Central Tax (Rate), dated 25th January, 2018 has clarified taxability of development rights under redevelopment schemes but it has still left many questions unanswered. This Article is an attempt to offer my views on the controversial topic. Under redevelopment schemes, societies plan to undertake redevelopment of existing building owned by them and for […]
Recent GST Council meeting decisions under which, were announced in the press conference by the Finance Minister on 06.10.2017, promised great relief to exporters whereby it was declared with big Enthusiasm that the Government will start issuing refund cheques from 10.10.2017.
Articles deals with following issues related to GST which needs to be taken care of immediately before roll out date of GST 1. HSN /SAC Codes 2. Carry Forward of Cenvat / VAT Credit balance on Inputs / Input Services
Following measures can be adopted to curb the practice of undisclosed turnovers in the GST law. 1. Discouraging Without Bill Sales through Denial of Input Tax Credit on such sales 2. Tracking Sales Turnover for restriction on Tax Credit.
Much awaited Circular for Introduction of New Automation Process for Filing of MVAT and CST Returns has been issued under no. 22T of 2016 dated 26.08.2016 and accordingly Revised Scheduled for Filing of Returns from 01 April 2016 is also been announced
GST system depends upon online matching of supplier GST liabilities with relevant input GST credit claims by receivers of goods or services. In my opinion, for having a seamless and easy system of matching credits, GSTN should provide for online generation of TAX INVOICES by suppliers, which will altogether eliminate need for data entry of purchases by receivers of the supplies received and hence no need for reconciliation/matching of output GST database with input credit claims database.
Maharashtra Sales Tax Department is making substantial changes in its automation processes relating to taxpayer interface, w.e.f F.Y 2016-17. This is expected to result into significantly more efficiency in the working of the Department, less errors due to minimum human intervention and maximum benefits in relation to time management.
Though Budget is not the only policy initiative available with the Government for making major contributions to economic progress, it has over the years assumed great importance as most comprehensive single declaration from the government every year about its policy intentions.
Please find below a compilation of queries received by us in response to Notes related to LBT Exemption put up on our website along with related opinions from our side . While care has been taken to comprehend the issue alongside applicable legal provisions, it is submitted that considering the fact of frequent changes in LBT laws and likelihood of issuance of further clarifications by the Authorities, users of information published in this FAQ should note that the opinions expressed do not constitute legal advice and users are therefore advised to refer the matter to us for personal interaction about all aspects of the issue involved.
