Assessee is a developer and engaged in the business of developing of real estate project. He has calculated the GST liability on sale of under construction flats as per agreement to sale with flat purchaser by taking deduction of 1/3 of the consideration . In the GST Audit , departments is denying the deduction for 1/3 for the land on the ground that there is no involvement of share transfer of land in the agreement to sale and land is transferred only when the sale agreement is executed with the society . Is the interpretation of the GST audit department…
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KINDLY ADVISE IF THE GST IS PAYABLE ON EDC AND IDC ACCOUNT IN AN UNDER CONSTRUCTION BUILDING. IF SO, WHAT IS THE RATE OF GST PAYABLE AND FROM WHICH DATE THE GST IS APPLICABLE AS THE BUILDER IS DEMANDING THE GST AFTER GIVING THE POSSESSION OF THE APARTMENT AND JUST BEFORE THE REGISTRY OF THE PROPERTY.
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RCM on ocean freight was struck down by Supreme court in Mohit Mineral"s case. However notifcation exempting RCM on Ocean freight was made effective from 1st October 2023. Does this mean that RCM is payable till 30th Sepember 2023 ?
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Sir, I am a YouTuber based in Ahmedabad. I have a channel on YouTube where I make videos on various topics. I also have a blog where I write articles. I have monetized the channel and blog with Google Adsense.i expect my annual earning in FY 2023-24 from AdSense to exceed Rs 20 Lakhs. All income is received from Singapore. The income is offered to income-tax under the head "business profits". I read an article in Tax Guru that as the AdSense income is received from Singapore, it constitutes "export of services" and is not liable for payment of GST.…
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what will be the GST amount Chargeable on the amount of Corporate Guarantee in case of newly opened Subsidiary Company?
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A person is registered under GST Act falling under the jurisdiction of Central Tax Officer. Business of the registered person has been inspected u/s 67 (1) of the SGST Act by the State Tax Officer, the goods has been seized and the proceedings has been further initiated u/s 74. Is the action by State Tax Officer legal? Do the State Tax Officer have authority to inspect as well as initiate a proceeding in the matter of a registered person falling under the jurisdiction of Central tax Officer?
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Sir, in our case supplier is not filed by GSTR-1 in time for the financial year 2020-21 but buyer clime the GST ITC based on tax invoice, the same point is raised department issued a notice required a clarification of excess declared GST ITC between the GSTR-3B vs GSTR-2B . The above difference GST ITC is payable complosory ? if any judgement declared by courts please forward judgement
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Sir, In case of vehicle sales by the automobile dealers, they issue some discounts to the customers by way of a credit note after issuing the initial invoice. Whether these discounts can be reduced for the purposes of determining taxable value as per section 15 of CGST Act, 2017 as it is a post sale transaction? Please clarify.
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Section 16(4) of CGST Act Prescribes time limit for claiming the ITC. Many matters have gone to High court challenging the constitutional validity of this sub section.Bombay High have also admited such matters. Few of them are - DN wind System (I) pvt Ltd WPST /27887/2022 and Meta Tiles Pvt Ltd and otheres WPT 12338(original) 2021. The Business Audit for the period 2017-18 and 2018-2019 has been taken up by depatment wherein they propose to disallow the above crdit. As matter is pending in various courts, can assessee reqest for keeping the proceedding in abyance till matter is decided? Please…
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Hi, We have claimed GST Refund for FY 2017-18 in January 2020. Refund got processed. However during the GST Audit, officer is claiming to reject the refund and claim back amount. Is there any case laws to support the refund claim, providing mere delay in claim subject to meeting other refund claims should not be reason for rejecting refund. Thank you in advance. Look forward to hear from you at the earliest.
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Value of land in sale of Under construction flat under GST