Seminar on GST & Income Tax (Finance Act 2024)

The Builders' Association of India, Southern Centre, organized a highly informative seminar on GST & Income Tax (Finance Act 2024) on 25th September 2024 at Dr. Ramkrishna Auditorium, BAI Southern Centre premises, Ambattur. The event was well-attended, with over 150 members participating.

The seminar began with a welcome address by Mr. N.G. Lokanathan, Chairman of the Southern Centre, and an inaugural address by Bhishma Mr. R. Radhakrishnan, Past National President and Trustee.

Ms. G. Vardini Karthik, Madras High Court Advocate, provided an in-depth presentation on Income Tax Amendments in the Union Budget 2024. Her address covered crucial topics such as the comprehensive review of the Income Tax Act, reintroduction of block assessment, capital gains rationalization, and litigation reforms(Union budget 2024-25).

Advocates Ms. Nivedita Mehta and Ms. P. Jayalakshmi focused on GST and its implications, explaining the applicability of GST to Joint Development Agreements, affordable and non-affordable housing and GST rates under various scenarios. They also clarified the GST impact on construction and sale activities post-completion certificate issuance.

A Q&A session followed, where the speakers, along with Mr. S.D. Kannan, Taxation Committee Chairman, and Mr. R. Ramalingam, Co-Chairman, Taxation Committee, answered all the queries raised by the participants. Centre Chairman Mr. N.G. Lokanathan honored all the three Guest speakers with Shawl, Momento and Gift.

The seminar concluded with a closing address by Mr. Mu. Moahan, Trustee and Past National President. Mr. R. Ramesh, Seminar Committee Chairman, organized the seminar, which concluded successfully and was followed by lunch.