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FAQs on Real Estate Sector released


09th May 2019

Ministry of Finance has on 7-5-2019 issued FAQs in respect of recent amendments made for the real estate sector which have come into force from 1st of April 2019.

FAQs released under F. No. 354/32/2019-TRU, dated 7-5-2019 clarify on some 41 questions relating to the new regime with reduced rate of GST.

...

DGAD findings can only be interfered with if there is procedural illegality


8th April

Delhi High Court has refused to interfere, under Article 226 of the Constitution, with DGAD final findings recommending non-imposition of Anti-dumping duty on AA Dry Cell Batteries imported into India from China and Vietnam. The Designated Authority had recorded a positive disclosure statement and contradictory to it, rendered negative final fin...

NCCD exemption available to units exempted from Excise duty


29th March

Supreme Court of India has held that manufacturing units in special categories states which were exempt from Central Excise duty would also be exempt from National Calamity Contingent Duty (NCCD), since NCCD is of the nature of an excise duty. 

The court in the case of Bajaj Auto Ltd. v. UOI held that same view on t...

Appeal proceedings against defunct company not infructuous


27th March

The departmental appeal before the jurisdictional High Court was dismissed by terming it ‘infructuous’, on the sole ground that since the assessee company’s name had been struck-off from the Register of the Company u/s. 560(5) of the Companies Act, 1956, it stands dissolved and the issue need not be decided.  

34th Meeting of GST Council – New regime for residential realty sector


21st March

GST Council in the 34th meeting held on 19-3-2019 has decided on the modalities of implementation of GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable houses.

According to the press release, a one-time time-bound option will be provided to promoters to continue to pay GST at the ol...

State enactment for saving VAT recovery post GST, valid


20th February

Kerala High Court has held that Kerala VAT Act does not stand fully repealed with the 101st constitutional amendment and that the State has legislative powers to enact saving clause under Section 174 of the Kerala GST allowing department to levy and recover VAT for transactions prior to GST.

It rejected the plea tha...

Advance authorisation - Removal of pre-import condition for IGST exemption


11th January

Pre-import condition to avail exemption from IGST and Compensation Cess for imports under Advance Authorisation has been removed.

CBIC Notification 01/2019-Cus., dated 10-01-2019 in this regard amends Notifications Nos. 18/2015-Cus. and 20/2015-Cus., where an additional condition has however been inserted in respect of imports ...

No Real Estate Agent service even if land sold not owned


19th December 2018

In a case involving alleged real estate agent service, CESTAT Delhi has rejected department’s plea that since the land sold was not in the name of assessee, it was not a transaction for sale or purchase of land.

It held that for a principal to principal transaction for purchase and sale of land, it is immaterial whe...

DFIA exports – Specifications of imported inputs to be declared on Shipping Bill


13th December 2018

Delhi High Court has allowed Revenue department’s appeal in a case involving DFIA exports. Department’s plea that the exporter was required to make declaration of technical characteristics, quality and specification on the shipping bills, of its inputs, and not the export products, as listed in Para 4.55.3 of FTP Handbook of...

TDS to be deducted on mark-up and not on reimbursement of salaries for manpower supply


7th December 2018

ITAT, Delhi has dismissed the appeal of Revenue dept. and upheld the impugned order of the Commissioner (Appeals) deleting disallowance of project management expenses, certain interest expenses and software expenses.

In respect of project management expenses, assessee had paid certain amount for manpower supply to a foreig...

No profiteering when MRP unchanged despite increase in tax rate


4th December 2018

The National Anti-profiteering Authority (NAA) has held that when the effective tax rates for the impugned product increased post GST and the assessee still maintained the same MRP and the reduction in base price was more than the increase in ITC, there is no profiteering by the assessee. 

A complaint was filed agains...

Cenvat credit available on towers and shelters used for telecom service


15th November

Delhi High Court has recently allowed Cenvat credit on towers, shelters and parts thereof used for providing telecommunication services. The Court in this regard distinguished its judgement from the various judgments of the Bombay High Court.

Not an immovable property

Rejecting Revenue ...

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