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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

Answer ID : 85412

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