1. Whether land owner is liable to pay GST?
• No, the landowner is not liable to pay GST if the promoter pays the tax on behalf of landowner on transfer of TDR's or FSI or on upfront amount, but there was an exception where the landowner might be taxed within the purview of GST.
Real estate industry is one of the most important pillars of the Indian economy. Real estate industry contributes between 6- 8% to India's Gross Domestic Product (GDP) and it stands second after IT industry in terms of employment generation.
With multiple taxes applicable previously like Serv..