Preface

Under the GST regime, taxation of construction industry has become a very important issue for the Builders, Contractors and Land Owners. Many amendments have been made in the GST rates applicable to construction industry. Further, with effect from 1-4-2019, a new scheme of taxation of construction services as well as real estate transactions has been notified.

The present Book has been written so as to cater to the practice needs of the practicing Chartered Accountants, GST Practitioners and Tax Consultants with regard to the Works Contract, Construction Services and Real Estate Transactions.

For the sake of better presentation, the book is divided into Five Parts, namely :

Part I	:	GST Basics Concepts
Part II	:	Input Tax Credit
Part III	:	GST Procedures
Part IV	:	GST on Construction Services, Works Contract and Real Estate Services
Part V	:	Appendices

Part I of the Book provides an overview of Basic Concepts of GST viz. Levy and Collection of Tax, Meaning and Scope of Supply, Composite and Mixed Supply, Place of Supply, Reverse Charge Mechanism, Value of Taxable Supply, Tax Deduction at Source, etc.

Part II of the Book contains scheme of taking and utilisation of Input Tax Credit under the GST regime.

Part III deals with procedural aspects under the GST regime i.e., Registration, Returns, Payment of Tax, Accounts and Records, etc.

Part IV is the heart of the book which deals with the entire scheme of levy of GST on Works Contract, Real Estate and Construction Services. It comprises separate Chapters on GST on General Construction Services, GST on Construction of Single Residential House, GST on Construction of Residential and Commercial Apartments, GST on Works Contract Service and GST on Land Development Agreements, GST on Renting of Real Estate and GST on Services by or to Government or Local Authority.

FAQs on Real Estate issued by the Central Board of Indirect Taxes, have been reproduced in the Appendix part of the Book.

In sum, the book covers the entire gamut of the scheme of taxation of works contract, construction services and real estate transactions under the GST regime.

The Book is expected to be extremely useful for practising Chartered Accountants, Indirect Taxes Executives in Industry and GST Practitioners dealing with Taxation of Works Contract, Construction Services and Real Estate Transactions.

Each chapter of the Book contains a detailed commentary on the related subject-matter. The object behind this is to provide the readers complete details relating to a particular topic under the GST law.

Notwithstanding the best of our care, the likelihood of certain shortcomings having crept into this book cannot be ruled out. We, therefore, solicit creative feedback from our esteemed readers to bring to our notice any mistakes, errors, omissions or discrepancies, as and where noticed by them.

JODHPUR	Dr. AVADHESH OJHA
12nd  SEPTEMBER, 2019	CA. SATYADEV PUROHIT
ANANTA CHATURDASHI