GST in real estate is not just about the rate charged to customers. It can impact: 🔹 Project cost & margins: especially where ITC is restricted 🔹 Advances & RCM: timing and liability matter 🔹 80% procurement: compliance can have cost implications 🔹 JDA: development rights, construction for landowner & sale of landowner’s share can create multiple GST events 🔹 Completion / First Occupation: can change the GST treatment 🚨 Don’t overlook Joint Development Agreement Develop

I’ve put together a practical GST Action Plan covering key decisions every business must evaluate at the start of the year 👇 📌 Turnover-based applicability (Composition, E-invoicing, QRMP) 📌 Letter of Undertaking (LUT) for exports 📌 Critical year-end & opening reconciliations 📌 ITC reversals under Rule 37 / 42 / 43 📌 Mandatory ISD mechanism 📌 Industry-specific declarations (like hotels) 📌 GST readiness checklist If you get these decisions right at the start… 👉

We would like to share a brief update on the revised TDS and TCS tax codes in line with the Income Tax Act, 2025. As part of the transition from the existing provisions to the new framework, there are changes in section mapping and corresponding tax code tagging for various payment categories. It is important to realign your accounting and compliance systems to ensure accurate deduction/collection and reporting. We recommend reviewing the updated tax code structure and mappin

The recent notification dated February 28, 2026, from the Finance Department of Maharashtra advances the due dates for Professional Tax compliance from the end of the month to the 15th of the month. This critical update impacts payroll processing timelines for employers operating in the state. Compliance Event Previous Due Date New Due Date Annual March deadline 31st of March 15th of March General monthly deadline Last date of the month 15th day of the month May illustrat

DGFT, vide Policy Circular No. 10/2025‑26 dated 26 February 2026, has provided relief in respect of Average Export Obligation (‘AEO’) under the EPCG Scheme due to a decline in exports, in accordance with Para 5.17(a) of the Handbook of Procedures. The key points are as follows: Proportionate reduction in AEO for sectors/product groups where total exports have declined by more than 5% in 2024‑25 as compared to 2023‑24. The list of affected product groups along with the percent

The Union Budget 2026 outlines a clear roadmap for long-term growth aligned with the vision of Viksit Bharat 2047, with a strong focus on future-ready sectors, ease of doing business, and fiscal prudence. Key highlights include: Policy push for clean energy, nuclear power, and carbon capture initiatives. ₹40,000 crore allocation to India Semiconductor Mission 2.0 and tax holiday till 2047 for foreign cloud service providers. Manufacturing boost for biopharma, chemicals, capit

I’ve put together a practical GST Action Plan covering key decisions every business must evaluate at the start of the year 👇 📌 Turnover-based applicability (Composition, E-invoicing, QRMP) 📌 Letter of Undertaking (LUT) for exports 📌 Critical year-end & opening reconciliations 📌 ITC reversals under Rule 37 / 42 / 43 📌 Mandatory ISD mechanism 📌 Industry-specific declarations (like hotels) 📌 GST readiness checklist If you get these decisions right at the start… 👉

The GST Network is bringing in the Invoice Management System (IMS) from 1st October 2024 to simplify compliance for taxpayers. 🔹 What is...

Important for entities with multi-state presence! The latest GST notification mandates compulsory Input Service Distributor (ISD)...

Exciting updates from the latest budget include: 1️⃣ Big relief for Section 16(4) Notices 2️⃣ Waiver of Interest & Penalty for F.Y....

As we approach the end of March, businesses are gearing up for a critical period of tax compliance, particularly concerning Goods and...

At RMRA & Associates, we understand that establishing your business in a new market can be both exciting and challenging. That's why...

If you claim more Input Tax Credit in 3B than available in 2B, exceeding limits set by the Council, get ready for a heads-up. Let's...