CA Mukund Abhyankar

Service Tax or GST for Development Agreements entered during pre GST period

Goods and Services Tax - 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 ...

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GST on Development Rights given by societies under Redevelopment Schemes

Goods and Services Tax - 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 ...

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Exporters – No real respite from GST Worries yet …..

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, promised great relief to exporters whereby it was declared with big Enthusiasm that the Government will start issuing refund cheques from 10.10.2017....

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18 Immediate Points of Action before roll out date of GST

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 /SAC Codes 2. Carry Forward of Cenvat / VAT Credit balance on Inputs / Input Services...

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Using GST for checking menace of undisclosed sales & incomes

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 through Denial of Input Tax Credit on such sales 2. Tracking Sales Turnover for restriction on Tax Credit. ...

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Recent Posts in "CA Mukund Abhyankar"

Service Tax or GST for Development Agreements entered during pre GST period

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 ...

Read More

GST on Development Rights given by societies under Redevelopment Schemes

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 ...

Read More

Exporters – No real respite from GST Worries yet …..

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....

Read More

18 Immediate Points of Action before roll out date of GST

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...

Read More

Using GST for checking menace of undisclosed sales & incomes

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. ...

Read More

New Due Dates for Filing of MVAT & CST Returns in Maharashtra

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...

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Billing Software, key to success of GST

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...

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Revised MVAT & CST Returns & C form application from April 2016

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....

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Budget 2016: What it should aim to achieve?

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....

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30 FAQ’s on LBT Exemption in Maharashtra

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 lik...

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