Gujarat AAR: SEZs May Dodge IGST on Specified Services
SEZs exempt from IGST payments
In a significant ruling, SEZ (Special Economic Zone) units have been exempted from paying Integrated Goods and Services Tax (IGST) on specific services availed from the Designated/Development Trade Authorities (DTAs). The decision comes from the Authority for Advance Ruling (AAR), providing clarity and relief to SEZ entities operating within India.
The ruling addresses a longstanding ambiguity surrounding the tax liabilities of SEZ units when procuring services from domestic territories. Historically, SEZ units faced uncertainties regarding their tax obligations under the Goods and Ser..
GAIL Chairman Advocates Inclusion of Natural Gas in GST Regime
Sandeep Kumar Gupta, the Chairman of GAIL (India) Limited, has urged for the inclusion of natural gas in the Goods and Services Tax (GST) regime. Highlighting the potential benefits of such a move, Gupta emphasizes the need for uniform taxation and enhanced transparency in the natural gas sector.
Gupta's advocacy for bringing natural gas under the GST regime aims to streamline taxation and eliminate the cascading effect of multiple taxes imposed on the commodity across different states. By subjecting natural gas to GST, Gupta believes that it would promote a more competitive market env..
Brookfield India REIT to Acquire Bharti's Stake in Realty JV
Brookfield India Real Estate Trust (BIRET) is set to acquire nearly 50% stake in a real estate joint venture with Bharti Enterprises. This joint venture, Rostrum Realty Private Limited, includes properties across Delhi-NCR. The transaction is valued at approximately ?6,000 crores. Last year, Brookfield Asset Management already acquired a similar stake in four Bharti commercial properties.
With this acquisition, Brookfield?s REIT in India and Brookfield Asset Management will collectively control Rostrum Realty. This move is part of Brookfield's strategy to expand its real estate portfoli..
DLF Ventures into Mumbai, Goa with Luxury Homes This Year
DLF, India's leading real estate developer, is set to enter the luxury housing markets of Mumbai and Goa by the end of this financial year. The company plans to introduce high-end residential projects, marking its first significant ventures in these regions.
In Mumbai, DLF will launch a premium condominium project in Andheri, featuring luxury apartments priced between ?6 crore and ?8 crore. This development signifies DLF's re-entry into Mumbai's real estate market after a long hiatus. The project aims to cater to the burgeoning demand for luxury homes in India's financial capital.
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