If 3 partners come together and purchase a land give it to Developer and take 37% as there share....Do GST is Applicable to Land Owner...
IF No which Section....IF Yes which Section
3 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 28 August 2023
For the transfer of development rights by the landowner, the landowner needs to pay 18% GST. The value on which GST is paid is decided per CGST Rule 27 and Section 15 of the CGST Act
prasad Nilugal
( GST Practitioner & Accounts )
(14803 Points)
Replied 28 August 2023
After 1/4/2019 as per notification RCM applicable in case JDA (Joint Development Agreement ) , so please inform , Is it residential project or Commercial project or both ? . or take others opinion as well .
sabyasachi mukherjee
(27579 Points)
Replied 28 August 2023
According to joint development agreement there is a seperate agreement. it has to be taken into consideration.
Recent Topics
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
Related Threads
CAclubindia
