Goods and Services Tax

Introduction: Ever since the introduction of negative based taxation effective from 01.07.2012 under the pre-GST era, the cross-border services by way of scientific research, technical testing or analysis services have undergone huge litigation as to whether these services are to be considered as exported services or not. The issue remained

Introduction: Whether interest is payable or not on the amount of tax credit that was wrongly availed but reversed without utilising the same is always a bone of contention between taxpayer and Revenue under Indirect Tax laws. Under the erstwhile CENVAT Credit Rules, 2004, Rule 14 as prevailing prior to

Introduction: Development agreements are popular not only with respect to the construction of residential or commercial complexes but also with respect to laying and development of plots. The real estate companies enter into agreements with landowners for the purpose of laying of plots and undertaking various development works viz. compound

Section 171 of the CT Act[1] provides for anti-profiteering measures owing to the introduction of GST laws in India. The said section was a last-minute inclusion as it was missing in the model GST laws that were released for stakeholders’ consultation. Moreover, section 171 is not exhaustive and is only

The recent decision of three-member bench of Honourable Supreme Court in the matter of Calcutta Club Limited[1] with respect to the concept of mutuality in tax laws has ignited more concerns rather settling the dust. The said decision has great impact on the current goods and service tax regime, (GST)

Introduction: The typical model of majority of the IT companies which are engaged in provision of software services to parent/group companies is ‘cost plus mark-up’. Under this model, the Indian companies would agree to provide a host of services to the parent/group companies and bill them on periodical basis on

Introduction: In our 45th Volume (April 2018 edition) of our wiki, we have authored an article titled “GST on Shipping Services— the unwarranted turmoil” on GST implications over the services by way of transport of goods by vessel. It has been explained by us that the ocean freight and air

Introduction: This article is a continuation to our article in previous edition. In the previous article, we took up to deal the tax implications on development of plots, wherein, we have identified four transactions which are common to any development agreement: Transaction I – Transfer of Development Rights (TDR) by

Section 17(5) of Central Goods & Services Tax Act, 17 (for brevity CT Act) deals with blocked credits. The said section starts with non-obstinate clause overriding the general provisions of Section 16 of CT Act which deals with credit entitlements. In other words, despite of the fact that a particular

‘Housing for All’ is one of the biggest agendas of the current government. To achieve this agenda, the government has been granting various tax sops have been extended from time to time to builders/developers and other stakeholders. In this article, we explore the some of the sops pertaining to taxation