Articles by Padmanathan Kv

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Goods transport Agency (GTA) is undeniably one of the most unorganised sectors. Road transport business operates in a number of ways including goods transport agency, wayside transporters, courier agencies and so on. Therefore, it is pertinent to test whether they would fall within the ambit of GTA...

Posted in GST  1 comments |   1117 Views




Earlier composition scheme was available only to manufacturers and traders. With effect from 1st April 2019, central government, on recommendation of the council has notified Composition Scheme for service providers vide Notification No. 2/2019 central tax (rate) dated 07/03/2019. Consequently, Noti..

Posted in GST  2 comments |   1631 Views




.style2 { text-align: justify; } The CGST (Amendment) Act, 2018 has amended section 49(5) and inserted Section 49A and 49B which has drastically rationalized the utilization of ITC. This article is discusses the practical aspects on the new scheme of utilization of credit in the..

Posted in GST  5 comments |   1418 Views




With effect from 1st April 2019, CBIC vide a series of notification reduced the GST rates for real estate projects. Apart from various conditions to be fulfilled along with the new rates such as reversal of ITC, RCM on unregistered purchase; the notifications also introduced some changes in the taxa..

Posted in GST  3 comments |   2188 Views




E-way bill is an Electronic bill for the movement of goods under GST which can be generated on the E-Way Bill portal. Recently some enhancements have been made in the E-way Bill portal which has been discussed in this article. Moreover, CBIC vide its Notification No 22/2019-central tax dated April 2..

Posted in GST  1 comments |   887 Views




In December 2017, Central government vide notification 30/2017 Integrated Tax (rate) has provided a big relief to the works contractors making supplies to the Government by reducing the tax rate from 12% to 5% for supply of composite works contract constituting predominantly earthwork. Here is a det..

Posted in GST |   1273 Views




CBDT has vide Notification No 32/2019-Income Tax Dated 01/04/2019 released the new ITR Forms for AY 2019-20. While there is no change in ITR-1 (SAHAJ) meant for salaried assesses, there are some changes in ITR-2,3,5,6 and 7 for the Assessment Year 2019-20 with some additional reporting requirements ..

Posted in Income Tax  3 comments |   4774 Views




In the GST Council meeting held on February 24, 2019, the decision was made to cut tax on real estate projects to 5 per cent, from 12 per cent. It was also decided to slash the GST rate on affordable housing, to 1 per cent from 8 per cent, as per Finance Minister Arun Jaitley. These changes are appl..

Posted in GST  19 comments |   3179 Views




With the series of changes that have been made effective from 1st April, 2019 the effective tax rates has come down from 12% and 8% to 5% and 1% in the case of construction of residential apartments and Affordable housing apartments respectively. Consequent to these changes the ITC has become ineli..

Posted in GST  16 comments |   4192 Views





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