by Team NITYA | Mar 25, 2019 | Insight
The GST Council in its 34th Meeting held on March 19, 2019, discussed the modus operandi for implementation of lower GST rate of 1 percent on Affordable houses and 5 percent on houses other than Affordable houses (‘Other houses’) for ongoing and new projects. To Read...
by Team NITYA | Mar 25, 2019 | Articles
By Puneet Bansal, Managing Partner, M/s NITYA Tax Associates WITH maturing commercial understanding between buyers and sellers, commercial contracts often undergo a retrospective price revision due to variety of reasons. The reasons range from change in raw material...
by Team NITYA | Mar 25, 2019 | Insight
The Ministry of Finance vide its Circular No. 92/11/2019-GST dated March 7, 2019 clarified GST positions for various sales promotion schemes prevalent in the industry. The gist of various clarifications is as under: Free samples and gifts The supplier provides samples...
by Team NITYA | Mar 20, 2019 | Insight
Since the advent of GST, the Advance Authorisation scheme has been mired with controversies which are yet to settle. The Advance Authorisation Notification (referred in trailing mail) was amended on October 13, 2017 to exempt IGST and compensation cess, subject to...
by Team NITYA | Mar 19, 2019 | Insight
The GST Council in its 34th Meeting held on March 19, 2019, discussed the modus operandi for implementation of lower GST rate of 1 percent on Affordable houses and 5 percent on houses other than Affordable houses (‘Other houses’) for ongoing and new projects....
