GST Relief For Developers, Companies Earning Interest Income, And Hospitals

Initial revenue sacrifice to increase GST compliance

In its 25th meet last week, the Goods and Services Tax Council announced several clarifications that will bring relief for companies earning interest income, real estate developers and hospitals. Another clarification, largely applicable to the construction industry, would mean that leasing and rental of goods will be treated as supply of goods and not a service, attracting the GST rate applicable for goods and not services.

In BloombergQuint’s weekly series,The Fineprint, Jigar Doshi, indirect tax partner at SKP Group, and Anish Tripathi, director of GST and supply chain advisory services at Lakshmikumaran & Sridharan, explained the impact of the council’s decisions.

Source:https://www.bloombergquint.com/gst/2018/01/22/gst-relief-for-developers-companies-earning-interest-income-and-hospitals

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