The UP bench of the Authority of Advance Ruling (AAR) has ruled that corporate social responsibility (CSR) expenses incurred by a company in the course of business are eligible for input tax credit under goods and services tax (GST) regulations. It pointed out that CSR expenditure is incurr... Read more...
The central government is in favour of merging the goods and services tax (GST) rates of 12% and 18% into a single slab. Acceding to a demand first made by some states and endorsed by the Fifteenth Finance Commission (FFC). GST Council, India’s federal indirect taxes body, may discuss the matter a... Read more...
Asserting that there have been record GST collections in the past few months, Union Finance Minister Nirmala Sitharaman announced a proposal to remove 400 old exemptions and take every possible measure to reduce anomalies. Sitharaman's assertions came a day after the Finance Ministry on 31st January... Read more...
Alok Saraf, Associate Partner, Grant Thornton Bharat LLP The real-estate industry, passing through protracted recession even before the pandemic which worsened it manifold, pins its hope on the Budget for swift revival. The sector expects a two-pronged approach from the Budget — a just GST regi... Read more...
Hardeep Singh Puri Minister of India and Ministry of Housing and Urban Affairs said in an article that RERA has infused governance in a hitherto unregulated sector. Along with demonetization and GST, it has, to a large extent, cleansed the real estate sector of black money. It has transformational p... Read more...
Ashok Mohanani, President - NAREDCO Maharashtra The much-awaited budget 2021-22 is expected to bring a ray of hope as industry looks forward to a favourable budget this year. Although the Central and State Government has rolled out several reforms and incentives during the past quarters to restor... Read more...
Shishir Baijal, Chairman and Managing Director, Knight Frank India On the aspect of housing demand, Section 80 C tax deduction on home loan principal repayment does not provide for a focused benefit on housing. A separate annual deduction of INR 150,000 will provide the much-needed fillip to opt fo... Read more...
Bijay Agarwal, Managing Director, Salarpuria Sattva Group The pandemic has changed our long-held opinions on real estate and how we used to perceive it. One of the primary outcomes of this pandemic, has been an increasing desire for risk mitigation by real estate developers. This has had an imp... Read more...
According to Assocham, the most definitive of the data is the record collection of Rs 1.15 lakh crore in the Goods and Services Tax (GST) during December. "The State-wise collection showed the fight back spirit in consumer confidence. Illustratively, the largest consumption State of Maharashtra, ... Read more...
The real estate industry expects that the government acknowledges some of the following challenges faced by them and provides suitable relief in the Budget 2021: The focus of the government is to provide affordable housing to all in urban areas by 2022. Therefore, sale of under-construction affor... Read more...