Definition : As per the Goods and Services Tax (GST) Act 2017, construction refers to the building, renovation, alteration, repair, or any other similar activity carried out on an immovable property. It includes civil engineering works such as roads, bridges, airports, railways, dams, pipelines, and others, as well as the …
Basics : Tax Deduction at Source (“TDS”) generally means a certain registered person making payment or crediting to the supplier’s account for supply of taxable goods or services or both is required to deduct GST at source if the contract value without taxes exceeds the threshold limit. It is a …
Did you Know, GST Officer can not cancel your GST Registration merely on Ground of Principal Place of Business ? Read the Case Study for Complete Details CASE NAME : F R TRADE LINKS V. STATE TAX OFFICER (KERALA HIGH COURT) About petitioner : Partnership Firm Issue : GST Registration …
Applicability : GST is applicable to construction activities in India, whether it is private construction, commercial construction, or construction of flats/society. In other words, any property under construction which is intended for sale is considered a supply of service and, therefore, liable for GST. The ready-for-sale properties do not attract …
The same is pertinent to the ability of specific assesses to resubmit their GSTR-3B forms. At the time of process filing same was noticed that certain assessees’ returns comprised of the differences between the data that was furnished actually in the ITC claim and tax liabilities payment along with the data that …
Did you know ITC is not Allowed on Certain Purchases under GST ? if your Answer is No then this blog is for you. Let’s Understand the concept with relevant Case Studies : SECTION 17(5) BLOCKED CREDITS SECTION 17 (5): Notwithstanding anything contained in sub-section (1) of section 16 and …
Are you dealing in Taxable and Exempted Both the Goods ? and wants to know about Reversal on Account of Input and Input Services then this Blog is Completely for you. The input tax credit in respect of inputs or input services, which attract the provisions of sub-section (1) or …
WORKS CONTRACT UNDER GST : The works contract is a broad concept involving the agreements related to constructing a structure on a property. In addition, it involves the details of the raw materials and products used while undertaking the completion of any project. For example, the GST on construction of …
POSITIVE IMPACT OF GST ON THE AUTOMOTIVE SECTOR IN INDIA The Goods and Services Tax (GST) is an even handed taxation structure which has spread its effect across various sectors. As there has been ample information published on the basics of GST at large, we believe that elaborating and developing …
Let’s Understand the basic definitions under GST in simplified language “adjudicating authority” means any authority, appointed or authorized to pass any order or decision under this Act, but does not include the [Central Board of Indirect Taxes and Customs]2, the Revisional Authority, the Authority for Advance Ruling, the Appellate Authority …