Legal Validity of Deemed Valuation - In-depth Analysis of Gujarat HC Decision - Course

Episode Duration:
80 minutes

Episode Background:
It is to be noted that Rate notification under GST provides for deemed deduction of a fixed 1/3rd value towards land portion in the real estate transactions irrespective of the actual value of the land involved in the transaction.  Recently, the Hon'ble Gujarat High Court in the case of Munjaal Manishbhai Bhatt Vs UOI has read down such fixed deemed valuation of 1/3rd and held that the actual land value could be claimed as a deduction in cases where the same is available. This is a landmark judgment under GST for the builders. It is important that the nuances of this decision are known and analysed threadbare to understand its applicability to the specific facts and the various actions that need to be taken for transactions undertaken in the past and to be entered going forward.

What shall the episode cover?
Against this backdrop, Taxsutra in association with Hiregange Academy is delighted to present an episode on "Legal Validity of Deemed Valuation - In-depth Analysis of Gujarat HC Decision". The discussions have been led by CA Madhukar Hiregange [Founding Partner, Hiregange & Associates LLP], CA Sudhir VS (Partner, Hiregange & Associates LLP) & CA Ravi Kumar Somani (Partner, Hiregange & Associates LLP).

Key Highlights:

• Discussion on the law in respect of deduction of land value under GST; 
• Constitutional framework and a brief history of developments under the Service Tax regime;
• In-depth analysis of the Gujarat High Court Decision and the observations of the court;
• Applicability of this Judgment under various scenarios of Real-Estate Transactions
• What immediate action needs to be taken by the Builders & Landowners