GST on joint development

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Nisha Sonar (Querist)
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06 August 2017 Land developer and land owners case Development agreement done before GST for tween bungalow. One for owner and other for developers Now a buyer is asking for Entire tween bungalow after completion certificate received. (Owner and developer are ready for this) Now What is GST Liability of land owner, developer and third party?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 August 2017 No GST applicable on the sale as completion certificate is received.

Nisha Sonar

Nisha Sonar (Querist)
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06 August 2017 Please help for following Total land area is divided in two parts, one is for owner and second for developers. After completion of the work developer is selling his part to one buyer. Same buyer is asking for first part of land which is now own by owner. (Even owner is ready to sell his part to buyer) As on date no one has yet paid any type of tax I.e. service tax, vat, GST Now the question is what is the liability of developers - 1) on the first part given to owner? & 2) on the second part he is selling to buyer And another question is 1) is there any liability of GST on owner of the land regarding the sell of that property to buyer?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 August 2017 1 On the first part given to owner service tax applicable at 15% on 40% value excluding land.
2 No GST applicable on second part as he is selling it after completion certificate.
No GST on owner of the land selling the property to the buyer as property sold after completion.

Nisha Sonar

Nisha Sonar (Querist)
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06 August 2017 Please help for following • Flats allotted to land owner will be a taxable supply liable to GST where consideration is received in kind
form of development potentials

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 August 2017 Yes Flats allotted to land owner will be a taxable supply liable to GST where consideration is received in kind.

Nisha Sonar

Nisha Sonar (Querist)
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07 August 2017 Thanks sir Now Land owner giving license to develop to the developer and developer given flat to owner in kind in above case both are supply in terms of GST now who want to register under gst act if market price of sales is below 20 lakh or above 20 lakh

Nisha Sonar

Nisha Sonar (Querist)
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07 August 2017 What's GST rate on it, and who claim ITC on it Please give your expertise views on above thank you very much

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 August 2017 If developer given flat value to land owner exceed 20 Lacs GST payable at 18% excluding land value.

S S Dahale

S S Dahale (Expert)
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18 November 2017 If the land owner gets 50 % of Flats (3 out of 6) from Developer, (as per Dev.Agreement / JV), and as per the same land owner sales those 3 to different home buyers , who is entitled to get GST (either 12 % or 18%)from those home buyers, either Land owner or Developer? is land owner is liable to fine GST returns? as developer will be showing / filling his GST returns on purchases of building materials and services on ENTIRE 100% or 6 flats .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 November 2017 1 Land owner is liable to file gstr and claim ITC on GST paid to developer.
2 Developer will be filing gstr and claiming 100% ITC on all flats. He has to charge 12% GST on his own flats and 18% on land owner.

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