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GST works on a self-monitoring mechanism, which is matching the concept of invoice between supplier and recipient of goods and services. Only after matching of invoices and payment of tax by the supplier, the input tax credit will be available to the recipient.

Every transporter to maintain the records of consignor, consignee and other relevant detail of goods. Premises of transporter maybe inspected by proper officer if he is keeping goods escaping payment of tax.

In the course of Intra-State Supply (Intra-UT Supply), CGST and SGST shall be payable, these two components shall be collected and segregate by taxpayers, collect GST on the other hand in the course of Interstate transactions IGST.

The Statement of financial transactions need to be prepared by the person required to be audited in the income tax act 1961.

GST Council specifies rates 5%, 12%, 18% & 28% and categorised 1211 items under various tax slabs.

There is a large chunk of unsold inventory across the locations and available with almost all the builders. They would in all likelihood be trying to offload them and even offer a reduced rate along with other freebies. Buyers showing renewed interest in this market have to be cautious as the chances of falling into a trap could be high.

Starting a business and finding the right path where to spend money or not is a difficult task. That’s why startups often fall into the trap of spending money on things that aren’t that important it’s just one of the many mistakes that entrepreneurs can make.

As per rule 8 of said rules, every real estate agent required to register as per Act shall make an application in writing to the Authority in Form ‘G’, in triplicate, until the application procedure is made web based.

Trademark coexistence means a situation in which two different enterprises use a similar or identical trademark to market a product or service without necessarily interfering with each other businesses.

The Real Estate (Regulations and Development) Act, 2016 has prescribed for every State/UT to prepare details rules regarding registration and implementation of RERA.

Since the introduction of the Company’s Act Provisions and especially in the context of Sec. 180, 185 & 188 etc., ‘Ordinary course of business’ word becomes the matter of discussion. Like, as per section 188.

Real Estate projects that are ongoing and have not received a completion certificate, on the date of commencement of the Act, the promoter shall, within a period of 3 months from date of commencement, shall make application in triplicate for registration of the project.

The transitional provisions are made part of GST Act, to ensure a smooth and logical transition of Credits of Input Tax for taxpayers who are transforming from the existing tax regime to GST regime.

All State/ Union Territories for prepare Rules and set up Real Estate Regulatory Authority (RERA) with the sole motto to regularize the real estate sector.

Career as a company secretary is strictly for the dedicated people who have the ability to pay meticulous attention to detail. Company secretaries must be able to communicate effectively with people from all other departments of a particular company to ensure that the company practices are both legally and financially acceptable.