The Tax Post-A bi-monthly Indirect Tax Bulletin - May 2022

BDO in India is pleased to present ‘The Tax Post’ - A bi-monthly Indirect Tax Bulletin’ focusing on the world of Indirect Taxes, highlighting major trends across the space in India and globally, while also bringing forth practical views and experiences from our tax experts.

Presenting edition 12 of The Tax Post, spotlighting key industry trends:

Cover Story - The right mix of technology and human intelligence is key in the classification of goods, especially in the wake of the alignment of domestic product classification with HSN-2022. This section discusses the strategies to derive the advantage of proper classification of goods and the importance of appropriate classification.

Expert Speak - ‘Place of provision of service’ remains an area of dispute when it comes to the treatment of export and import and also for remitting appropriate taxes. Despite the continuous effort and proactive actions by authorities, a few areas of doubt persist. The same is discussed in this section.

In-Tales – The role of SEZs in India’s quest to garner a larger share of global business remains prominent. The recent trend and performance of this sector have been a cause of concern. The announcement to replace the current SEZ law with a new format is viewed with enthusiasm. We discuss the challenges faced by the sector and the shape of future design in this section.

Decoded – The recent judgment of the Gujarat High Court is a blessing for real estate developers and property buyers. The Court has held that ad hoc one-third deduction towards land value in computing taxable value for GST levy on the purchase of under-construction property, is ultra vires the provisions of the CGST Act and it is unconstitutional. This decision is discussed in this section.

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