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.
Category: Infrastructure Finance
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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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More infra funds on the anvil
The government plans three more sector-specific sub-funds, including for development of airports and ports, under the Rs.40,000 crore National Investment and Infrastructure Fund (NIIF), reports the Business Standard.
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India wasting funds on new coal plants | greenpeace
Over Rs.3,00,000 crore is being ¨wasted by India¨ on building an additional 62 GW of coal power plants that will remain idle due to huge overcapacity in the power sector, Greenpeace has alleged.
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ADB to help Pune develop integrated transport policy
The Asian Development Bank (ADB) has agreed to finance the Pune Municipal Corporation (PMC) in conducting studies related to urban transport with an aim to reduce the effects of climate change and strengthen public transport, reports the Indian Express.
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FM announces exemption threshold, administrative control mechanism for GST
The two-day meeting of the newly-constituted GST Council comprising the Union Finance Minister, Union Minister of State for Finance and the state Finance Ministers has concluded.
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Indiabulls Housing 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.
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Cabinet approves creation of GST Council
Create one post of Additional Secretary to the GST Council in the GST Council Secretariat (at the level of Additional Secretary to the Government of India), and four posts of Commissioner in the GST Council Secretariat (at the level of Joint Secretary to the Government of India).