08.03.2024 Real estate cos approach FinMin over GST notices

Real estate companies have sought the finance ministry's intervention after goods and services tax authorities served notices on 27 big and medium-sized developers over intra-group royalty payments for the usage of brand names in special purpose vehicles set up to implement projects.

Authorities had also sent out notices for non-payment of tax on corporate guarantees provided by flagship companies to their subsidiaries, which attracts 18% GST.

Source: The Economic Times

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