GST on Works Contract, Construction and Real Estate Transactions, 2019

GST on Works Contract, Construction and Real Estate Transactions, 2019

GST on Works Contract, Construction and Real Estate Transactions, 2019

  • Rs810.00

  • Ex Tax :Rs810.00

Contents

 

PART I--GST BASICS CONCEPTS

1.

Overview of GST

 

What is Goods and Services Tax?

 

Central taxes subsumed within GST

 

State taxes subsumed within GST

 

Taxes and levies not subsumed within GST

 

Goods not chargeable to GST

 

Structure of GST regime

 

Taxable event

 

IGST is leviable on inter-State supplies of goods or services

 

Goods--Meaning

 

Actionable claim--Meaning and scope

 

Services--Meaning

 

Money is regarded neither goods nor service

--Money--Definition

 

--Illustrations of transaction in money

 

--Investment of funds is a transaction in money

 

--Sale, purchase, acquisition or assignment of secured debt are transactions in money

 

--Service by way of remittance of foreign currency in India from overseas

 

Activities not constituting transaction in money

 

--Activity relating to use of money or its conversion

 

--Making of draft or pay order by bank

 

--Debt collection services or credit control service

 

Securities are regarded neither as goods nor service

 

--Meaning of securities

 

--Implications of inclusion of 'securities' in definition of goods

 

--Priority Sector Lending Certificates are not securities

 

--Buying or selling of mutual funds or debentures is transaction in securities

 

--Taxability of entry and exit load charged by mutual funds

 

--Fund management activity by AMC

 

--Securities include derivatives

 

--Transactions in interest rate swaps and foreign exchange swaps

 

Transactions in repos and reverse repos

 

--Meaning of repos

 

--Meaning of reverse repos

 

--Taxability of repos and reverse repos

 

Subscription to or trading in Commercial Paper (CP) or Certificates of Deposit (CD)

 

--What are CPs or CDs?

 

--Taxability of subscription to or trading in CPs or CDs

 

--Service charges or service fees is taxable

 

Forward contracts in commodities and currencies

 

--Nature of forward contracts

 

--Taxability of forward contracts

 

--Service charges or service fees are taxable

 

Future contracts

 

Inter-State supply

 

Supply of goods in the course of inter-State trade or commerce

 

Supply of goods imported into territory of India

 

Supply of services in the course of inter-State trade or commerce

 

Location of recipient of services

 

Location of supplier of services

 

Fixed establishment

 

Inter-state movement of various modes of conveyance, carrying goods or passengers for repairs and maintenance--Taxability of

 

Supply of goods or services outside India

 

Supplies in territorial waters

 

Classification of goods and services

 

Import of goods or services

 

Export of goods or services

 

Services provided to SEZ developer of SEZ unit

 

Rates of GST

 

Input tax credit

2.

Levy and Collection of Tax

 

Power to levy GST

 

Legislative scheme of levy of GST

 

Levy of Central Goods and Services Tax

 

Rates of Central Goods and Services Tax

 

Levy of State Goods and Services Tax

 

Levy of Union Territory Goods and Services Tax

 

Levy of Integrated Goods and Services Tax

 

Taxable event under GST regimes

 

Taxability of supplies made without consideration

 

Giving away essential commodities by a charitable institution--Taxability

 

Tax is payable by a taxable person

 

Person--Meaning

 

Person having more than one registration--Effect of

 

Different establishments of a person

 

Levy of tax on reverse charge basis under section 9(3)

 

Levy of tax on reverse charge basis under section 9(4) [Position upto 31-1-2019]

 

Levy of tax on reverse charge basis under section 9(4) [Position w.e.f. 1-2-2019]

3.

Meaning and Scope of Supply

 

Taxable event under GST

 

Services--Meaning

 

Meaning and scope of supply

 

Import of services for any purpose is regarded as supply

 

Import of goods is not supply under GST

 

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