Dear All,
One of our builder client has undergone for redevelopment of co operative society. There are total 20 flats as of now. Now builder will construct 30 Flats and will give 20 flats to society and it will sell remaining 10 flats.
Query:
There will be total expenditure for constructing 30 flats while builder will show sale of only 10 units. Now if we see practically, there will be loss in the books of accounts. so what shall be done in this case?
GST Shall be payable on Stamp Duty of 20 Flats? or GST Shall be payable on additional area provided to existing member?
CAclubindia
