GST
The real estate sector encompasses various transactions involving properties, including buying, selling, renting, and leasing, all of which are subject to GST regulations and rulings.
Traders and wholesalers operating in the real estate sector must adhere to GST regulations for their transactions involving goods and services related to construction, renovation, and property development.
GST regulations govern the provision of services in the real estate sector, including property management, maintenance, brokerage, and consultancy services, ensuring compliance with tax obligations.
DIGITAL DISTRIBUTION OF GOODS AND SERVICES:
Digital distribution platforms facilitating the sale and purchase of real estate-related goods and services must comply with GST rules, ensuring proper tax collection and reporting on digital transactions.
Commission agents involved in real estate transactions, such as property brokers and intermediaries, are subject to GST regulations, requiring them to report and remit GST on their commission earnings.
In 2023, significant GST rulings were issued in the real estate sector, addressing various aspects such as input tax credit, valuation methods, taxability of specific transactions, and compliance requirements, shaping the taxation landscape for industry stakeholders.
IBBI CASES
Delve into the notable judgments delivered under the Insolvency and Bankruptcy Code (IBC) during the year 2022, shaping the legal framework and resolving complex insolvency matters..
Discover key judicial rulings under the Insolvency and Bankruptcy Code (IBC) throughout the year 2023, offering insights into evolving legal precedents and impactful decisions by Indian courts.
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FINANCIAL MYTHs
“You need to carry a credit card balance to build good credit”:
This is false. You can build good credit by consistently paying off your credit card balance in full and on time each month.
“Investing is only for the wealthy”:
Anyone can start investing, regardless of their income level. There are various investment options available, such as low-cost index funds or robo-advisors, that are accessible to individuals with different financial backgrounds.
“Buying a home is always a better financial decision than renting”:
While owning a home can be financially beneficial in the long term, it’s not always the best option for everyone. Renting can offer flexibility and may be more affordable in certain situations, especially in expensive housing markets.
“Carrying a small balance on your credit card helps your credit score”:
Paying interest on your credit card balance won’t improve your credit score. It’s better to pay off your balance in full each month to avoid unnecessary interest charges.
“You need a lot of money to start saving for retirement”:
Even small contributions to retirement accounts can add up over time thanks to compounding interest. Starting to save early, even with modest amounts, can make a significant difference in your retirement savings.
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