Articles by Padmanathan Kv

Capping of ITC not reflected in GSTR-2A up to 20%: Analysis

Posted by Padmanathan Kv 11 October 2019 28854 Views

The central government vide Notification no 49/2019 central tax dated 9/10/2019 has made amendments to CGST Rules, 2017.

Understanding the meaning and scope of GTA for tax purpose

Posted by Padmanathan Kv 16 November 2019 7400 Views

Goods transport Agency (GTA) is undeniably one of the most unorganised sectors. Road transport business operates in a number of ways including goods transport a...

Composition Scheme to service providers

Posted by Padmanathan Kv 06 November 2019 10843 Views

Earlier composition scheme was available only to manufacturers and traders. With effect from 1st April 2019, central government, on recommendation of the counci...

Utilization of ITC: Practical Scenarios

Posted by Padmanathan Kv 27 October 2019 6189 Views

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 articl...

GST on Real Estate: Development Rights, long term lease and FSI

Posted by Padmanathan Kv 26 October 2019 13715 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 fulfille...

Enhancement in E-Way Bill and Restriction under Rule 138E of CST

Posted by Padmanathan Kv 23 October 2019 4693 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 ...

5% GST on Composite Works Contract constituting predominantly earth work

Posted by Padmanathan Kv 21 October 2019 25367 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 G...

ITR 2019-20 : An Analysis of amendments and additional disclosure requirements

Posted by Padmanathan Kv 23 April 2019 19523 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...

GST on Real Estate: Reversal of Input Tax Credit

Posted by Padmanathan Kv 20 October 2019 27822 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 ...

GST rate for Real-Estate Projects w.e.f 1st April 2019

Posted by Padmanathan Kv 20 October 2019 25425 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 deci...