Articles by Padmanathan Kv

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

Padmanathan Kv 11 October 2019 at 11:17

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

Padmanathan Kv 20 May 2019 at 16:16

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

Padmanathan Kv 10 May 2019 at 10:50

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

Padmanathan Kv 30 April 2019 at 11:11

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

Padmanathan Kv 29 April 2019 at 11:06

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

Padmanathan Kv 26 April 2019 at 18:39

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

Padmanathan Kv 24 April 2019 at 10:50

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

Padmanathan Kv 23 April 2019 at 11:14

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

Padmanathan Kv 23 April 2019 at 11:14

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..

GST on Real Estate: Reversal of Input Tax Credit

Padmanathan Kv 23 April 2019 at 11:13

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 ..