Interest and penalty for short payment and non-payment of GST Introduction:- For real-estate and works contracts, Government has specified two GST rates viz. 12% and 18%. The general rate is 18% and there are some specified services for which the rate ...
RERA Updates
1. Vide Circular No. GujRERA/CIR/81 Date 26/09/2017 - Relaxation has been given to the public authorities engaged in doing real estate projects which have their finance departments headed by officers with differing designations such as Finance Controller ...
FAQ on GST in respect of Construction of Residential Complex by Builders/Developers.
FAQ on GST in respect of Construction of Residential Complex by Builders/Developers. S No. Questions Answers 1 Whether sale of a Flat / House by a builder / developer is a supply of a service or a sale of immovable property under GST law? As per ...
Works Contract – Sale (vs) Service to Continue in GST Regime
There has been a long history of litigation on the issue of classification of works contract activities that whether it is to be considered a service or to be treated as the sale of goods. The reason behind it was that the constitution of India classif ...
Changes in Indirect Taxes
The major change undergone in the present Budget directly affecting the real estate or infrastructure sector is a change in the Service Tax (Determination of Value) Rules. Rule 2A is amended retrospectively with effect from 01.07.2010 so as to make it ...