Sachin Dave

  • Realtors told to reverse transition credit

    Realtors told to reverse transition credit

    The indirect tax department wants real estate developers, who were setting off taxes paid under earlier tax regime against the GST, to reverse the credit claimed as transition credit, said people in the know. Realty players hoped they would pass sales and indirect taxes to the customers and claimed this under the transition credit mechanism.

    McDonald’s India franchise drags government to court over GST credit

    McDonald’s India franchise drags government to court over GST credit

    Restaurants are currently levied a 5% GST, but they can’t claim the input tax credit against the tax they paid on raw materials and other expenses like rent. GST rate on restaurants was slashed to 5% from 18% in November 2017. While levying of 18% allowed them to claim input tax credit, under the 5% rate, they can’t do that.

    Brookfield in talks to invest $800 million in ReNew Power

    Brookfield in talks to invest $800 million in ReNew Power

    Deal could offer partial exit to Goldman Sachs that owns 48% stake in green energy company. Goldman Sachs, a backer of the company since 2011, has invested about $370 million in ReNew Power through 2013 and 2014. Founded in 2011 by Sumant Sinha, the son of former finance minister Yashwant Sinha, ReNew Power has more than 4,300 mw of operational capacity.

    Three years of demonetisation:  Cash is king in 66% of real estate transactions

    Three years of demonetisation: Cash is king in 66% of real estate transactions

    A majority of Indians continue to make a substantial percentage of their total annual purchases in cash, the survey said. About 40% people said anywhere between 5% to 25% of their total purchases were in cash, 29% said anywhere between 25% to 50% of their purchases were in cash and 27% said at they paid cash while purchasing almost every item in last year.

    Tax doubts may keep big FPIs away

    Tax doubts may keep big FPIs away

    The Securities and Exchange Board of India recently announced operational guidelines for FPIs and depository participants.

    Infosys hires PwC to probe plaints

    Infosys hires PwC to probe plaints

    Infosys hired PwC to investigate two whistle-blower complaints alleging financial malfeasance against chief executive and finance chief. The company has already roped in law firm Shardul Amarchand Mangaldas (SAM) to look into the legal side of the complaints and asked its internal auditor, EY, to probe its revenue recognition practices.

  • No blogs yet have been written by the author, we’re sure the author will contribute one soon

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service