Question ID :
44457
Impact of GST in case of Land Owner's Share upon entering into Development Agreement
What will be the impact of GST on Land Owners Share when is land given to a Developer under a Developer Agreement and in consideration receives proportionate flats ? At what rate will GST be deposited on above transaction ?
Please guide with reference.
Posted by
Gaurav Kumar Baranwal
on
Apr 01, 2023
Filed Under
GST
Impact on the Developer towards the Landowner share:
Assumed - JDA on or after 01st April 2019 : -
GST Rate: -
Affordable Residential apartments = 1.5%
Other than affordable residential apartments = 7.5%
Commercial apartments =18%
Time of supply [06/2019-CT (R)]
Date of CC or first occupation, whichever is earlier.
Posted by
SREENIVASULU THULASIRAM on
May 13, 2024