WHY the levy; and on what ?
POInts :
'Sale'
Immovable Property
TRansfer- On conveyance and registration, after payment of stamp duty; not earlier.
Stamp Duty is not subsumed - thus, if GST, a double whammy why then a second levy
While under construction, it is promoter , NOT prospective purchaser, who is the 'owner'; and with insurable interest
Promoter, as held by the apex court, - in different contexts- is the holder of the property, till completion and conveyance
And, promoter is the debtor (principal) accountable for all taxes, levies- including property tax for land, ..
Why and how the liability be passed on to prospective purchaser (-implicit in 'grossing up for tax' , though a non-starter for other reasons !)
Levy - scope is a non-issue; no longer
READ
Articles -(a critique on 'deeming' )
Cited HC and SC Judgments ; critically studied and analysed
Fundamentals (spl. Characteristics of the property- UNIT, flat or apartment):
How, and why, then the slogan,-
"1- nation, 1- tax- 1-market "makes any sense, without seriously/ridiculously offending 'common sense' ?
for Ready Ref. ONLY >
<> https://resource.cdn.icai.org/50379cajournal-june18-3.pdf
Excerpts:
Excerpts:
"Today, corporate governance and Chartered Accountants are
inseparable since it is difficult to have good governance without involving the
finance professionals. They are like two sides of the same coin. Newer
challenges are emerging, particularly in the spheres of Companies Act 2013,Insolvency and Bankruptcy Code, 2016, valuation, Direct Tax Code,
Goods and Services Tax, XBRL, IFRS-converged Ind AS, integrated reporting,
e-commerce, environmental accounting, international taxation, technology
consulting, ERP implementation, forensic accounting, and frauddetection. No doubt, the Indian accountancy profession has come a
long way. But it has miles to go. There are many challenges to be met, many
frontiers to be conquered and histories to be made."
Excerpts:
MORE
"Helen Keller has said: Optimism is
the faith that leads to achievement. Nothing can be done without hope and confidence
. We have achieved so much in the past, we have continued doing that in the
present and we hope to do that in future too, I would say, our journey has just
begun since we have miles to go from here. Ernest Hemingway has said on the
power of human endeavours: But man is not made for defeat. A man can be
destroyed but not defeated."
"Shrimad Bhagwad Gita that has been
among the greatest gospels of spiritual work ever provided to the human race
defines a person of profound wisdom as one whose efforts are free from desire
and worldly gratifications and whose actions are guided by the fire of wisdom.
Let us try to become wise and knowledgeable in that sense and work together for
the common goods of humanity. Let us all promise to give
our society and our country what it deserves. Let us act with our conscience intact.
Let us profess ethically with accountability and integrity. "
MORE
localcircles.com
GST law requires suppliers of goods
and services to pass on any reduction…
Whither Legality /Legitimacy ? OR
Why does not offend "Constitutional MORALITY" ??
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