‘Construction agreements differ from State to State’
   Date :04-Nov-2020

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Business Bureau :
 
The Nagpur Branch of WIRC of ICAI recently hosted a virtual CPE meet cum webinar on –“GST on Real Estate Transactions”. On the occasion, Central Council Member and Chairman, GST and Indirect Taxes Committee, Institute of Chartered Accountants of India, - CA Rajendra Kumar P, in his inaugural address said that, mode, manner and method in which construction agreements are written differ from State to State. Hence webinars and certificate courses to update members through concerned regions and branches, are of due relevance to members, he opined. He further added that India is an important contributor to a range of OECD standard-setting activities and is doing pioneer work.
 
“Indian participation is immense at OECD forum. Its commitment to ensure better policies for better lives is evident to find required amendments at various times to fecilitate effective implementation of GST in India, he added. Going forward, GST is bound to be there as best legislation to follow, get acquainted with the provisions and practice for satisfaction in professional arena, he added. He congratulated CA Kirit N Kalyani, Chairman, Nagpur Branch for the apt events for members and recognised the branch as one of the most active branches of Western Region. Kalyani took the opportunity to convey that the webinar has been organised in the best manner possible, for serving the members.
 
He welcomed on the virtual dias and duly recognised the commitment to serve the cause of profession of CA Kumar who graced the occasion as Chief Guest and Speaker CA Naresh Sheth, Mumbai for taking great efforts and agreeing to deliberate and guide the members regarding GST on Real Estate Transactions.
 
In the technical session, CA Naresh Sheth guided the members on various important aspectsin Joint Development Agreement, GST on Sale of Developed Plots and other burning issues. CA Jiten Saglani, Secretary coordinated meeting. CA Akshay Gulhane, WICASA Chairman, co-ordinated the Q&A session and proposed vote of thanks. CA Saket Bagdia, Vice Chairman, CA Suren Duragkar, IPC; CA Mohinder Chawla, and other were present.