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Taxmann’s GST on Works Contract & Other Construction/EPC Contracts by Sudipta Bhattacharjee – 8th Edition

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Taxmann’s GST on Works Contract & Other Construction/EPC Contracts by Sudipta Bhattacharjee, Rishabh Prasad, Abhishek Garg –  8th Edition 2022.

Taxmann’s GST on Works Contract & Other Construction/EPC Contracts by Sudipta Bhattacharjee, Rishabh Prasad, Abhishek Garg –  8th Edition 2022.

Description

This book covers a broad spectrum of aspects in the context of works contracts. It provides an understanding of the impact of GST as applicable to ‘works contracts’ vis-à-vis a wide range of construction and EPC/O&M contracts or concession agreements.

This book serves as a comprehensive and practical guide for tax specialists and generalist legal advisors.

The Present Publication is the 8th Edition, authored by Sudipta Bhattacharjee, Rishab Prasad & Abhishek Garg. This book is amended by the Finance Act 2022 and amended up to 25th April 2022. The key features of this book are as follows:

  • [34 Crisp, Easily Readable Chapters] each explaining the concepts with several case-studies
  • [Evolution of Concepts from the Pre-GST Era] have also been touched upon in the book to provide a comprehensive understanding
  • [Sector-wise Coverage] which includes the following:
    • Oil & Gas Sector
    • Real Estate Sector
    • Road/Highway Projects
    • Ports
    • Thermal and Solar Power Generation
    • Large Manufacturing Plants
    • Large Urban Water Supply Projects
  • [Analysis of Hot-button Issues] such as:
    • What can qualify as immovable property?
    • Input Tax Credit related aspects as applicable to ‘works contracts’
    • Impact on Advances/Security Deposits
    • ‘Free of Cost’ Supplies
    • Transitional Issues
    • Anti-profiteering
  • [Detailed Analysis] on the following topics:
    • Analysis on the applicability of GST on liquidated damages with detailed reference to the updated legal position in the European Union/United Kingdom
    • Practical Strategies vis-à-vis structuring various types of construction/EPC contracts
    • Best practices for tax controversy management under GST

The detailed contents of the book are as follows:

  • Introduction to the scheme of GST
  • Evolution of ‘Works Contract’ Pre-GST
  • Definition of ‘Works Contract’ under GST
  • Case Studies: Applying the understanding of ‘Works Contract’
  • ‘Works Contract’ must pertain to ‘Immovable Property’ – What is ‘Immovable Property’
  • For a contract to qualify as a ‘Works Contract’, it must involve ‘Transfer of Property in Goods’ – What is ‘Transfer of Property in Goods’
  • ‘Composite’ and ‘Mixed Supply’ – Relevance under ‘Works Contract’
  • The interplay between composite supply, mixed supply and works contract
  • Classification of services under GST and ‘Works Contract’
  • Input Tax Credit for ‘Works Contract’
  • Case Studies to practically understand whether a contract would qualify as a ‘Works Contract’
  • Comparison with Pre-GST regime – What constituted ‘Works Contract’ then, do they still qualify as ‘Works Contract’?
  • Registration for Works Contractor under GST
  • Time of supply and issuance of invoice (Point of Taxation)
  • Impact of GST on advances/security deposits, etc.
  • Valuation and ‘Free of Cost’ supplies by the customer
  • Place of supply
  • Liquidated damages under works contract & GST implications
  • GST Rates as applicable on various types of works contracts
  • Summarizing the key differences in ‘Works Contract’ in the Pre and Post GST era
  • Transition provision under GST for Works Contract
  • Tax Deduction at Source (‘TDS’)
  • Works Contract and implications in Oil & Gas Sectors
  • Works Contract and implications in Real Estate
  • Works Contract and implications for Roads/Highways
  • Works Contracts and implications on Ports
  • Works Contracts and implications on Thermal Power Generation
  • Works Contract and implications on Solar Power Generation
  • Works Contract and implications on Large Manufacturing Plants
  • Works Contract implications on Large Water Supply Projects
  • GST and anti-profiteering
  • Practical strategies vis-à-vis structuring of various types of works contract under GST
  • What happens to the ‘No-Income Tax’ position for offshore supplies under a single EPC contract post GST?
  • Best practices for tax controversy management under GST

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Additional information

BINDING

PAPERBACK

AUTHOR

Sudipta Bhattacharjee, Rishabh Prasad, Abhishek Garg

ISBN

9789356221444

PUBLICATION

TAXMANN PUBLICATIONS

YEAR OF PUBLICATION

2022

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