Land leasing, renting to attract GST from July 1

Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax.Sale of land and buildings will be however out of the purview of GST, the new indirect tax regime. Such transactions will continue to attract the stamp duty, according to the legislations Finance Minister Arun Jaitley introduced in the Lok Sabha yesterday for approval.Electricity has also been kept out of the GST ambit in pvt ltd company registration in Delhi.

GST, which the government intends to roll out from July 1, 2017, will subsume central excise, service tax and state VAT among other indirect levies on manufactured goods and services. The Central GST (CGST) bill -- one of the four legislations introduced, company incorporation in India states that any lease, tenancy, easement, licence to occupy land will be considered as supply of service. Also, any lease or letting out of the building, including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services as per the CGST bill.

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GST Anti-Profiteering Rules Released: Firms Face Cancellation of Registration If Found Guilty.

The government on Tuesday free anti-profiteering rules underneath the products and Services Tax (GST) regime that offer for cancellation of pvt ltd company registration in India of any entity or business if it fails to expire the good thing about lower taxes or input diminution to customers during a conterminous manner.
While a sunset clause of 2 years has been inserted, a amount of 8-11 months has been provided for the total method involving screening of the grievance and sequent investigation and action, if any, by the anti-profiteering authority.
A five-member National Anti-Profiteering Authority, headed by a secretary-level officer, has been planned within the rules. The authority will order reduction in worth conterminous with the lowering of incidence of taxation underneath GST. It additionally seeks come back of the undue profit attained from not passing on the reduction in incidence of tax to customers beside AN eighteen per cent interest, wholly owned subsidiary in India as additionally impose penalty, consistent with the anti-profiteering rules issued by the CBEC on Tuesday.

The authority shall have powers to order recovery of the quantity as well as interest not came just in case the eligible person doesn't claim come back of the quantity or isn't classifiable that shall be deposited within the client Welfare Fund.

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Traders Promised Registration In One Day

Even as the contours of the GST remain fluid, the Delhi government has eased the procedure for grant of registration to fresh applications to encourage more traders to contribute towards its kitty of Value Added Tax (VAT).

Guidelines eased:

In circular issued on Friday, The department of trade and taxes said that applicant dealers would be granted company registration in india within a day of applying through a mobile platform, even as it eased guidelines around the provision of bank details for the purpose. The provision of providing bank account details at the time of applying for registration under the DVAT and CST act has been made optional which will encourage more traders to register.

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Bigg Boss 10 November 21 Highlights: Is Lopamudra the next Sunny Leone of the Bigg Boss House?

After giving many opportunities to the contestants of the house to create a buzz around the controversial television reality show, BiggBoss 10, it appears as if Bigg Boss himself has taken upon himself the responsibility of entertaining the viewers of the show. To add spice to the show, Bigg Boss, on Monday introduced an interesting and a unique nomination task. No planning, no plotting and no personal grudges, this week's nominations will be based purely on the creativity and talent of the Bigg Boss house contestants. The house is split into two teams, Team Bani and Team Lopamudra. Both the teams need to create controversial videos that could go viral and could impress Sunny Leone, the judge of the task. The winning team will be safe from eviction this week.

Original Source: http://bit.ly/2fA4Hx9