February
Tuesday 27 March 2018 photo 24/30
|
Gst impact on under construction property pdf: >> http://szf.cloudz.pw/download?file=gst+impact+on+under+construction+property+pdf << (Download)
Gst impact on under construction property pdf: >> http://szf.cloudz.pw/read?file=gst+impact+on+under+construction+property+pdf << (Read Online)
19 Jun 2017 Builders - Pre and Post GST. CA Naresh Sheth. 6. June 19, 2017. Particulars. Service Tax VAT. Total. GST. Impact. Sale of under- construction flats / units. 4.50%. 1%. 5.5% (including land value). 12% (including land value). Joint development –. Owner's Area. 4.50% or. 6%. Nil. 4.50% or 6%.
real estate. ? The Buyer do not avail credit of any taxes paid on property i.e VAT, Service Tax, Stamp duty, registration charges, as immovable property is not a subject matter of tax once it is complete. ? On resale no tax is payable in current as well as proposed scenario also. ? Buyer generally buys under construction.
Construction and Real Estate. Impact of Model Impact. - Positive. Impact. - Positive. Impact. - Neutral. Service tax + VAT. • Present regime – rate is. 15%*30% + 0.6%. • GST regime - rate in the range of 18%- 20%. Impact ?Whether the services includes immovable properties as the same is not included in the. “goods" ?
Impact of GST. Taxability -. As discussed above, any construction of a property by a developer for a purchaser amounts to 'Works Contract' and accordingly, the subject transaction will be taxable under the GST laws. For the discussions on 'Taxability', 'Place of Supply', 'Time of Supply', 'Input Tax Credit',. 'Valuation' etc., the
27 Jun 2017 credit against GST paid by the buyer of under-construction property; not available on new sales post completion of the property (similar to current scenario). Levy of stamp duty and registration charges on the buyer will continue under GST and be applicable over and above. GST. Impact of GST versus
24 Jan 2018 Development) Act (RERA) and demonetisation, the players are now grappling with several GST issues which may take some time to settle. At present, GST is applicable only on limited supplies in the real estate sphere. While sale of property in under-construction projects is treated as a pure supply of
3 Dec 2016 Construction and. Real Estate sector constitutes approximately 9% of the country's total GDP. Growth of this sector has a direct nexus with the nations growth. GST could be a blessing in disguise for this sector which has been surviving the adversities of the current indirect tax complexities for a substantially
Classification and taxation of JDA. • Construction on own land. • Only developer as contractor. • Supply of manpower. • Valuation. • Revenue sharing Vs Area sharing. • Outsourcing of end to end construction activity. • Advance paid Vs Advance received? GST Impact. • Purchase return. • Reduction in the purchase bills.
of GST on Under Construction and Ready-To-Move-in Property. As per GST law, Construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire Consideration has been received after issuance of completion certificate
own account including construction of such immovable property for furtherance of business. Therefore, it can be inferred that ITC is not restricted when goods and services are being used by a taxable person in the same line of business. Hence, under the GST regime builders/ developers would be eligible to take ITC on
Annons
Visa toppen
Show footer