Gst Rate On Joint Development Agreement



-December 9, 2020-

Gst Rate On Joint Development Agreement

Mike Burroughs

This applies to the provision of TDR or ISPs or the long-term lease of land used in new projects, where a new rate of 1% or 5% is applicable. The owner of the land grants the developer development rights by signing the joint development contract. The developer, on the other hand, provides the landowner with a continuous supply of work for a period of time. The final tax obligation on operating fee transfer services for housing construction is less than the Tax calculated under Stage 1 and Stage 2. For commercial housing, the final tax debt is calculated at 18% compared to the value covered by paragraph 1A. Section 2 (zn) - "real estate project": the development of a building or building composed of dwellings, the conversion of one or more existing buildings into dwellings or the development of land or dwellings, if any, for the sale of all or part of these dwellings, land or buildings, as appropriate, and includes common areas, development work, all improvements and structures, and all reliefs, and supporting documentation that results from them; C. Any other amount charged by the developer by the buyer of the dwelling, including preferential location fees, development fees, parking fees, common facility fees, etc. In an ongoing project, for which the developer has opted for new rates, the term also includes housing built under housing plans established by central or regional governments. Hello, thanks for the detailed explanation. I have a question, my project started before 01-04-2019 and I chose a new system.

Now I have sold few apartments at the price of 5%. In February, I received OC, and sold few apartments by OC, what is the GST sold for post-OC apartments? In the absence of a specific mention of the concession rate, such activity is taxable at 18%. The GST Council has introduced an 18% GST rate for the transfer of development rights. However, in accordance with Central Tax Communication 4/2019 of 29 March 2019, the GST Council indicated that the exemption would apply to the registration of construction if it was launched after 1 April 2019. It is interesting to note that in the case of IN RE: SHRI SANJEEV SHARMA 2018 (4) TMI 1077 - AUTHORITY FOR ADVANCE RULING , NEW DELHI as discussed above rewarded the judgment of SURESH KUMAR BANSAL - ANUJ GOYAL - ORS. VERSUS UNION OF INDIA - GOLDS. 2016 (6) TMI 192 - DELHI HIGH COURT, on the grounds that the GST has the machine provisions to determine the value of the land in the declaration established in paragraph 15, paragraph 5, of Section 15 relating to the value of the taxable benefit. This notification was issued by the government in accordance with Section 15, paragraph 5, on the recommendation of the GST Council, so there was no need for a separate rule. Therefore, paragraph 2 of Communication 11/2017 - Central Tax (rate) of 28.6.2017 is fully authorised, in accordance with Section 15, paragraph 5, to adopt provisions relating to machines for determining the value of surfaces intended for exclusion and for measuring the value of the provision of goods and services intended for the collection of GST.


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