Taxmann GST on Works Contract & Other Construction/EPC Contracts by Sudipta Bhattacharjee – 8th Edition 2022

This book covers a broad spectrum of aspects in the context of works contracts. It provides an understanding of the impact of GST as applicable to ‘works contracts’ vis-à-vis a wide range of construction and EPC/O&M contracts or concession agreements.

This book serves as a comprehensive and practical guide for tax specialists and generalist legal advisors.

The Present Publication is the 8^th Edition, authored by Sudipta Bhattacharjee, Rishab Prasad & Abhishek Garg. This book is amended by the Finance Act 2022 and amended up to 25^th April 2022. The key features of this book are as follows:

• [34 Crisp, Easily Readable Chapters] each explaining the concepts with several case-studies
• [Evolution of Concepts from the Pre-GST Era] have also been touched upon in the book to provide a comprehensive understanding
• [Sector-wise Coverage] which includes the following:
  • Oil & Gas Sector
  • Real Estate Sector
  • Road/Highway Projects
  • Ports
  • Thermal and Solar Power Generation
  • Large Manufacturing Plants
  • Large Urban Water Supply Projects
• [Analysis of Hot-button Issues] such as:
  • What can qualify as immovable property?
  • Input Tax Credit related aspects as applicable to ‘works contracts’
  • Impact on Advances/Security Deposits
  • ‘Free of Cost’ Supplies
  • Transitional Issues
  • Anti-profiteering
• [Detailed Analysis] on the following topics:
  • Analysis on the applicability of GST on liquidated damages with detailed reference to the updated legal position in the European Union/United Kingdom
  • Practical Strategies vis-à-vis structuring various types of construction/EPC contracts
  • Best practices for tax controversy management under GST

The detailed contents of the book are as follows:

• Introduction to the scheme of GST
• Evolution of ‘Works Contract’ Pre-GST
• Definition of ‘Works Contract’ under GST
• Case Studies: Applying the understanding of ‘Works Contract’
• ‘Works Contract’ must pertain to ‘Immovable Property’ – What is ‘Immovable Property’
• For a contract to qualify as a ‘Works Contract’, it must involve ‘Transfer of Property in Goods’ – What is ‘Transfer of Property in Goods’
• ‘Composite’ and ‘Mixed Supply’ – Relevance under ‘Works Contract’
• The interplay between composite supply, mixed supply and works contract
• Classification of services under GST and ‘Works Contract’
• Input Tax Credit for ‘Works Contract’
• Case Studies to practically understand whether a contract would qualify as a ‘Works Contract’
• Comparison with Pre-GST regime – What constituted ‘Works Contract’ then, do they still qualify as ‘Works Contract’?
• Registration for Works Contractor under GST
• Time of supply and issuance of invoice (Point of Taxation)
• Impact of GST on advances/security deposits, etc.
• Valuation and ‘Free of Cost’ supplies by the customer
• Place of supply
• Liquidated damages under works contract & GST implications
• GST Rates as applicable on various types of works contracts
• Summarizing the key differences in ‘Works Contract’ in the Pre and Post GST era
• Transition provision under GST for Works Contract
• Tax Deduction at Source (‘TDS’)
• Works Contract and implications in Oil & Gas Sectors
• Works Contract and implications in Real Estate
• Works Contract and implications for Roads/Highways
• Works Contracts and implications on Ports
• Works Contracts and implications on Thermal Power Generation
• Works Contract and implications on Solar Power Generation
• Works Contract and implications on Large Manufacturing Plants
• Works Contract implications on Large Water Supply Projects
• GST and anti-profiteering
• Practical strategies vis-à-vis structuring of various types of works contract under GST
• What happens to the ‘No-Income Tax’ position for offshore supplies under a single EPC contract post GST?
• Best practices for tax controversy management under GST