Pioneer Associates ., In re
Date: September 30, 2021
Subject Matter
Where a promoter exercises option to pay tax at the rate as specified for item (ie) or (if) against serial number 3 of the Notification No. 03/2019-Central Tax (Rate) , there is no scope to pay tax at a reduced rate of 1% or 5%
Summary
The issue involved in the instant case is to decide whether a promoter can pay tax at old GST of 12% (effective rate is 8%) on all advances received after 01.04.2019 in respect of apartments which qualifies the definition of affordable residential ap…
1.1 At the outset, we would like to make it clear that the provisions of the Central Goods and Services Tax Act, 2017 (the CGST Act, for short) and the West Bengal Goods and Services Tax Act, 2017 (the WBGST Act, for short) have the same provisions in like matter except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the CGST A…