Gst for land owners after development of flats
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 March 2018
We have made an agreement with a builder for development of our land in exchange of flats...now builder is asking us to pay 1,80,000rs GST Per flat as the market value is 15 lakhs per flat...we are not going to sell the flats to any one..my question is does we land owners of the developed property need to pay GST?
Please clarify
Please clarify
Udaya Chandran
(Expert)
02 March 2018
Yes, GST is applicable.
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