Question ID :
36887
GST on sale of plotted and developed land
Taxpayer has purchased land. He will do plotting of the same (sub-plots , internal roads , lighting, garden etc). Then he will sell the plots to buyers who can then construct units on their plots. Ques:
1. Is it taxable in GST if plots are sold before completion?
2. If yes, what value is to be adopted? 1/3 abatement is unfair since majority cost if land
3. Can 2 agreements be made: 1 for sale of land (no GST), 1 for development (with applicable GST)? (transaction value can hold since no related party customers)
posted by
Gaurav S Kenkre
on
Dec 11 2018 12:00AM