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TAXMANN’S GST ON WORKS CONTRACT & OTHER CONSTRUCTION/ EPC CONTRACTS BY ABHISHEK GARG & RISHABH PRASAD EDITION 10TH EDITION SEP. 2024

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TAXMANN’S GST ON WORKS CONTRACT & OTHER CONSTRUCTION/ EPC CONTRACTS BY ABHISHEK GARG & RISHABH PRASAD EDITION 10TH EDITION SEP. 2024

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TAXMANN’S GST ON WORKS CONTRACT & OTHER CONSTRUCTION/ EPC CONTRACTS BY ABHISHEK GARG & RISHABH PRASAD EDITION 10TH EDITION SEP. 2024

Taxmann GST Works Contract Other Construction Sudipta Bhattacharjee

Taxmann GST Works Contract Other Construction Sudipta Bhattacharjee

Description

This book is a comprehensive guide that discusses and analyses the complexities of GST as it applies to works contracts, construction projects, and EPC contracts across various industries. It covers critical topics such as the definition of works contracts under GST, input tax credit eligibility, valuation, sector-specific guidance (e.g., oil & gas, real estate, power generation), and best practices for tax controversy management. Its practical approach includes case studies, international comparisons, and up-to-date legal precedents.

This book is a helpful reference for tax specialists, legal advisors, and professionals navigating GST compliance in construction and related sectors.

The Present Publication is the 10th Edition and has been amended by the Finance (No. 2) Act, 2024. It covers the recommendations of the 54th GST Council Meeting held on 09-09-2024 and is authored by Sudipta Bhattacharjee, Rishabh Prasad & Abhishek Garg, with the following noteworthy features:

  • [What’s New in the 10th Edition]
  • Latest Amendments – This Edition incorporates all amendments up to 1st September 2024, reflecting the most up-to-date legal changes and amendments in the GST law
  • Hot-Button Issues – Expanded coverage of hot-button issues such as:
  • Input Tax Credit in Works Contracts
  • Impact on Advances and Security Deposits
  • Treatment of Free-of-cost Supplies
  • Liquidated Damages & GST – A new in-depth chapter discusses the latest legal positions on liquidated damages, mainly focusing on the evolving jurisprudence in India and the European Union/UK
  • GST Rates & Classifications – Detailed guidance on GST rates applicable to various works contracts, with clear explanations of classifications and valuations under GST law
  • [Comprehensive Practical Guide] The book serves as a complete practical guide providing a detailed understanding of GST’s impact on a wide range of construction and EPC contracts, as well as concession agreements
  • [Sector-wise Coverage] It includes sector-specific analysis for industries such as oil & gas, roads, real estate, ports, urban water projects, thermal and solar power projects, and large manufacturing units, making it a unique reference guide
  • [Detailed Chapter Structure] The book is divided into easy-to-read chapters covering the constitutional framework, sectoral guidance, input tax credit, valuation issues, and complex topics such as immovable property, free-of-cost supplies, liquidated damages, and anti-profiteering provisions
  • [Evolution from Pre-GST Era] The text also traces the evolution of key concepts from the pre-GST era, providing a holistic understanding of the shifts in tax law over time
  • [International Comparative Perspective] A dedicated chapter explores how construction contracts are treated under international VAT/GST regimes, providing valuable global insights
  • [Case Studies] Several chapters feature real-life case studies, helping readers practically understand whether specific contracts would qualify as works contracts under GST
  • [Legal Precedents] The book discusses the legal position on liquidated damages in the context of GST, with updated references to international legal frameworks, particularly in the European Union and the UK
  • [Practical Strategies] It provides practical strategies for structuring construction and EPC contracts, as well as best practices for managing tax controversies
  • [Inclusion of Appendices] The book contains detailed appendices that include relevant notifications and circulars to aid in compliance and practical application of GST laws

The structure of the book is as follows:

  • Chapter 1 – Introduction to the Scheme of GST
  • Chapter 5 – What is Immovable Property in Works Contracts?
  • Chapter 17 – Liquidated Damages Under Works Contracts & GST Implications
  • Chapter 22 to 27 – Works Contract Implications in Various Sectors (Oil & Gas, Real Estate, Roads/Highways, Ports, Thermal and Solar Power)
  • Chapter 31 – Structuring Various Types of Works Contracts Under GST
  • Chapter 33 – Best Practices for Managing Tax Controversies
  • Annexures – CGST rate schedules, Maharashtra GST Act, explanatory notes on service classification

About the Author

Sudipta Bhattacharjee:

Sudipta is a Partner at a  reputed law firm based out of Delhi and has more than 12 years of experience in providing strategic tax and allied commercial-legal advisory services to clients in diverse sectors and in structuring, drafting, reviewing, and negotiation of various contracts. He is a lawyer by qualification, and has graduated from the prestigious National University of Juridical Sciences, Kolkata.

Sudipta specializes in all pre-GST Indian indirect taxes including Customs, Excise, Service Tax as well as GST and contract documentation related services. He has been involved in providing strategic advice on the GST transition and implementation in India to businesses across sectors and has undertaken several training sessions educating clients and general public about the impact of GST on their key business processes. Sudipta has also led VAT impact assessments for business conglomerates in Kuwait relating to the proposed VAT introduction in middle-east (Gulf Cooperation Council countries).

Sudipta has written extensively on GST and other tax issues in newspapers like Business Stan

Rishabh Prasad

Rishabh is a tax lawyer working in one of the premiere tax law firms in the country. He graduated from the prestigious National University of Juridical Sciences, Kolkata in 2015 and has worked extensively in all areas of indirect tax including GST, Service Tax, Customs, FTP and International Trade Laws. Rishabh has also been deeply involved with the GST transition in India and has regularly been advising various corporate houses on strategic as well as typical day to day GST issues including transaction structuring. Further, Rishabh has been a part of various transnational assignments for business conglomerates in relation to the impend

Abhishek Garg

Abhishek is a practicing tax lawyer and holds dual professional qualifications of a Chartered Accountant and an Advocate. He is a Commerce Graduate from the prestigious Shri Ram College of Commerce and has done his Law from Campus Law Center, Faculty of Law, Delhi. He is an Associate  Member of Institute of Chartered Accountants of India. He has experience of handling Direct and Indirect Tax Litigation across all judicial and quasi-judicial fora. He has briefed and appeared with renowned Tax Lawyer Mr. V. Lakshmi kumaran in several high-stake tax matters in the Supreme Court of India (listed before the Special Bench constituted for tax matters in 2015). In the past one year, he has been actively involved in advising and training various MNCs and large Indian companies in implementation and tra

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