WebDec 8, 2024 · The issue is whether the value of similar flats/shops given to others is comparable with flats given free to Landowner or transferor of TDR i.e. whether that value closely or substantially resembles the value … WebJul 19, 2024 · 1. Time of supply and point of taxation with respect to flats allotted to land owner by the builder by way of supplementary agreement on 15.05.2024 (i.e., before …
GST on Real Estate Transactions, Transfer of …
WebSep 5, 2013 · 1.sale value of land- agreed consideration with deverloper for the land given for development (+) cost of construction of flat (land retained by owner on which flat is constructed) 2.Less: cost of acquisition of land Cost of construction : letter to be obtained from builder that cost is incurred on the portion of land lord is enough WebApr 30, 2024 · Service provided by the builder to the landowner in the form of transfer of constructed area or flats in lieu of land development right given. ... In case of further sales of constructed area/flats, the … tp bear
Applicability of GST on Joint Development Agreements (JDA)
WebApr 2, 2024 · The value of flats given to landowner in lieu of development rights shall be the open market value of similar flats charged from independent buyers, nearest to the … WebLandowner is required to pay GST on sale of his share of flats while the property is under construction. Land owner needs to take GST registration and charge such GST to the … WebFeb 28, 2024 · As per sharing, the land lord got 9 flats, and the builder got 11 flats. On 28-7-18 , the JDA was registered. To make the deal straight, the refundable security deposit was made as non refundable security deposit and only 8 flats were given to the land lord and 12 flats were taken by builder. The construction will be completed by 2024 Oct. tpb exchange