Tax Events

Real Estate Sector - GST Rate rationalization and its impact

02 April 2019

Dates : 3rd April 2019 (Wednesday) in Hotel Leela, Gurgaon
            4th April 2019 (Thursday) in L&S office, Jangpura
As you may be aware about the recent changes in real estate sector which have been made effective from 01.04.2019 with respect of residential properties sold before completion certificate/first occupation.
The prominent changes have kept all stakeholders busy for some time as the issues such as transition from ongoing project to new scheme has thrown open various challenges. Besides above, the issue relating to the exemption on the taxability of development right/FSI/long term lease premium has also raised many concerns. With the notification released on 29th March 2019, quite a few issues have been resolved by the revenue and some remain open hoping for some more clarity to be provided.
The new scheme for the first time introduces certain new concepts such as reverse charge on development rights to the extent of unsold units on date of receipt of completion certificate, shortfall of the purchase of goods/services or both from the registered dealer, cement procured from unregistered dealer, etc.
Lakshmikumaran & Sridharan (L&S), in its endeavour to keep all its clients updated, is organising a small deliberation to discuss nuances of the amendments which shall help the business to decide the relevant strategy moving ahead. 
The sessions, by the expert panel, will cover the recent notifications along with their impact, and would be followed by a Question/Answer Session.
These sessions for knowledge sharing are as per the following schedule:
3rd of April 2019 at Ballroom-1, Hotel Leela Ambience, Ambience Island, Gurgaon, at 4:00 pm to 6:00 pm (Registration at venue starts from 3:30 pm)
4th of April 2019 at Lakshmikumaran & Sridharan 3rd floor, 5, Link Road, Jangpura Extension, Delhi-110014, at 5:00 pm to 7:00 pm (Registration at venue starts from 4:30 pm)