When Interest can be levied in GST? Section 50 of CGST Act provide for the levy of interest in GST. This section contains three subsections: Interest for late payment of amount of Tax: (1) Every person who is liable to pay tax in accordance with
I am sharing with you all a synopsis on the very recent ruling of Hon’ble Telangana High Court on the issue of payment of interest on ‘Gross Tax Liability’ or ‘Net Tax Liability’ under the GST laws. You can download the pdf of ” Section 50 of GST
Download the full PPT on GST Audit & Annual Return by clicking the below image:- GST Act envisages three types of audits:- First, mandatory audit if turnover exceeds the Rs. 2 crores [U/s 35(5)]. Second, special audit if complexities are involved in the calculations [U/s
Download the full PPT on Real Estate Taxation Scheme From April 2019 by clicking the image below: CBIC issues notifications in March 2019 which related to a Real Estate Taxation Scheme. Important Terminologies Ongoing Project – Project started before 1st April 2019 subject to conditions
Download the Full PPT of GST Real Estate Amendments by clicking the below image:- Agenda Current Indirect tax regime The effective rate of taxes on real estate sector before 1.4.2019 Amendments as brought out in rates for Developers w.e.f. 1.4.2019 Amendment in ITC provisions Issues
Download Full Pdf of New format for form 16 by the employer by clicking the image below G.S.R. 304(E).— In exercise of powers conferred by sections 200 and 203 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of
Dear Colleagues. The NACIN announced GST practitioner exam will be conducted on 14.6.2019. so, from today onward I am providing my model question papers to all of you on daily through What’s APP. Kindly refer and try to attempt and I wish to successes in
Download the full representation regarding GST issues faced by Real Estate sector by clicking the below image:- A full representation regarding GST Issues faced by Real Estate Sector is as below. Sr.No. Issue Suggestion Rational 1. There should be no GST on Land Development Rights.
1. GST rates for Ongoing Projects (Where option not exercised for old rates) and New Projects (01.04.2019 onwards): GST rate on Real Estate on ongoing projects are given in the table below: S.No. Category Effective GST Rate Conditions Remarks a. Residential Projects a. Affordable
What is the definition of Affordable Housing : A Residential House/flat of carpet area of up to 90 Sqm(968.752 sqft) in Non-metropolitan Cities/towns having a value up to 45 Lacs. A Residential House/flat of Carpet area of up to 60Sqm(645.835 sq ft.) in Metropolitan cities/towns having
