Tuesday, 5 June 2018

Govt. allows provisional settlement of IGST funds through adjustment in subsequent period

Govt. amends Rule 11(3) of GST Settlement of Funds Rules 2017 to allow provisional settlement of any sum of IGST collected in a particular FY and remaining unsettled so far, through adjustment in subsequent month(s) / year(s) based on returns filed by taxpayers : Finance Ministry Notification 

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Mere execution of JDA with developer does not trigger capital gains tax in real estate transactions

  Recently Bangalore ITAT recently delivered an important ruling clarifying that merely executing a Joint Development Agreement (JDA) does n...