The Model GST Law specifically treats a ´works contract´ (including any transfer of property in goods in the execution of such contract) as a ´service´. However, determining the nature of a particular agreement, or a set of agreements, for a project (i.e., whether it qualifies as a works contract or not) would still be critical from the perspective of the place of supply, the taxable value, the applicable rate of tax and the compliances to be undertaken given the peculiar and varied nature of arrangements in the infrastructure sector, involving multiple scopes of work and multiple participants (consortium) for either a full project or for parts of a single project.
Author: admin (Infratructure Today)
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Durable Beauty
BASF, one of the world´s largest chemical producers, headquartered in Ludwigshafen, Germany, decided to build a manufacturing unit in Chennai for making catalytic converters used in automobiles. Aswathanarayana & Eswara LLP, a 50-year old Architect and Consulting firm in Chennai, was considered as an architect and consultant for the project.
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Tips for Buying Best Backhoe Loader in India
While buying a backhoe loader, you need to pay attention to various points. Here are those tips to help you buy the best backhoe loader and to provide you with the details on how Mahindra EarthMaster is the best option.
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Growth Stimulus Treatment (GST)
That our country´s GDP growth rate is going to get a bump-up if the Goods and Services Tax was to be implemented, is a consensus among many experts, as well as the industry bodies, although they may differ regarding the extent of push GST is likely to give our economy, with the quantum suggested varying from 1-3 per cent of incremental increase in growth
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FM announces administrative mechanism for GST
For annual turnover above Rs.1.5 crore, the taxpayers will be cross-examined either by the Central or state authorities on the basis of risk assessment.
The Centre will continue to assess the existing service tax assessees, till state officers are trained for the same.
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Indiabulls raises Rs.1,330 crore via masala bonds
Indiabulls Housing Finance Ltd (IBHFL) has said that it has raised Rs.1,330 crore by issuing its first masala bonds to overseas investors. The three-year tenure rupee-denominated bonds were listed on the Singapore Exchange (SGX) and attracted close to 70 per cent participation from investors in Asia, a company statement said.
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Indian Oil, GAIL ink MoU for equity stake in Dhamra LNG terminal
Indian Oil Corporation Limited and GAIL (India) Limited signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for equity in the 5 MMTPA capacity LNG receiving, storage and re-gasification terminal being set up at Dhamra Port, Odisha.
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October land allotments in $100 bn DMIC project
The $100-billion Delhi Mumbai Industrial Corridor will kick off land allotments next month. Global investors like Ikea, Kia Motors and China Railway Construction Corp are eyeing acquisitions, reports Economic Times.
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ONGC nod for stake in GSPC gas block
State-owned Oil and Natural Gas Corp (ONGC) has approved signing of a preliminary agreement to buy a stake in Gujarat government firm GSPC´s KG basin gas block, according to a reportin the Business Line.
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German design cargo vessels for IWAI´s NW-1 foray
The Inland Waterways Authority of India (IWAI) has inked a deal with DST, Germany to design vessels, especially suited to navigate the 1,620 km stretch of NW-1.