About Product
This book provides a comprehensive coverage on GST implications on Works Contract and other construction/EPC contracts. The Present Publication, authored by Sudipta Bhattacharjee, Rishab Prasad & Abhishek Garg, is the 7th Edition, and law stated in this book is amended up to 24-2-2021. The key features of this book are as follows: Summary of key differences in Works Contract pre & post GST era Relevant provisions on Works Contract under GST Key Concepts & latest Case Laws on GST Works Contract Several practical case studies & their implications on various sectors such as: o Oil & Gas Sector o Real Estate Sector o Road/Highway Projects o Ports o Thermal Power Generation o Large Manufacturing Plants o Large Water Supply Projects Practical Strategies vis-a-vis Structuring of various types of Works Contract under GST Best Practices for Tax Controversy Management under GST The contents of the book are as follows: o Introduction to the scheme of GST o Evolution of ‘Works Contract’ Pre-GST o Definition of ‘Works Contract’ under GST o Case Studies: Applying the understanding of ‘Works Contract’ o ‘Works Contract’ must pertain to ‘Immovable Property’ – What is ‘Immovable Property’ o For a contract to qualify as ‘Works Contract’, it must involve ‘Transfer of Property in Goods’ – What is ‘Transfer of Property in Goods’ o ‘Composite’ and ‘Mixed Supply’ – Relevance under ‘Works Contract’ o Interplay between composite supply, mixed supply and works contract o Classification of services under GST and ‘Works Contract’ o Input Tax Credit for ‘Works Contract’ o Case Studies to practically understand whether a contract would qualify as ‘Works Contract’ o Comparison with Pre-GST regime – What constituted ‘Works Contract’ then, do they still qualify as ‘Works Contract’? o Registration for Works Contractor under GST o Time of supply and issuance of invoice (Point of Taxation) o Impact of GST on advances/security deposits, etc. o Valuation and ‘Free of Cost’ supplies by the customer o Place of supply o Liquidated damages under works contract & GST implications o GST Rates as applicable on various types of works contracts o Summarizing the key differences in ‘Works Contract’ in the Pre and Post GST era o Transition provision under GST for Works Contract o Tax Deduction at Source (‘TDS’) o Works Contract and implications in Oil & Gas Sectors o Works Contract and implications in Real Estate o Works Contract and implications for Roads/Highways o Works Contracts and implications on Ports o Works Contracts and implications on Thermal Power Generation o Works Contract and implications on Solar Power Generation o Works Contract and implications on Large Manufacturing Plants o Works Contract implications on Large Water Supply Projects o GST and anti-profiteering o Practical strategies vis-à-vis structuring of various types of works contract under GST o What happens to ‘No-Income Tax’ position for offshore supplies under a single EPC contract, post GST? o Best practices for tax controversy management under GST
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