Form 3 under Joint Development

Page no : 2

Satish Kavitake (389 Points)
Replied 09 May 2018

similarly whether landowner while selling flats allocated to him to customers , should charge gst on sales price

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170108 Points)
Replied 09 May 2018

No, because it do not fall under supply, as per GST act.

Satish Kavitake (389 Points)
Replied 09 May 2018

sir, can I get circular/notification where developer has to pay gst on flats allocated to landowner

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170108 Points)
Replied 09 May 2018

gst/notfctn-04-2018-cgst-rate-english.

Satish Kavitake (389 Points)
Replied 09 May 2018

sir, on what amount and when developer is liable to pay gst on flats allocated to landowner

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170108 Points)
Replied 09 May 2018

Here......... It means the Developer is liable to pay the GST to the treasury, by collecting the same from landowner; as the responsibility to pay GST (to Government) is on supplier.

Rest of the things are clarified in the notification & in the article........

Satish Kavitake (389 Points)
Replied 10 May 2018

sir thanks , very good advise and clarification

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170108 Points)
Replied 10 May 2018

My Pleasure.........

CA Ruchir Jayantbhai Desai (Chartered Accountants) (53 Points)
Replied 04 October 2018

Sir,

In case of Form 3 of Developers of a Joint Development Agreement where land owner will share in constructed property. what should be the cost of land ?

Whether the unit sale price of the units which are to be given to land owners will be the cost of land ? Plz clarify.