GST ON JOINT DEVELOPMENT AGREEMENT
This query is : Resolved
D SONAWANE
(Querist)
23 May 2023
My Client has executed a development agreement on 15.10.2021.Total Project Consist of 15 residential units. Out of the same 9 units are given to Developer and 6 Units are given to Landlord. All units are identical in all aspects. Developer has sold 7 units and Landlord has sold 2 units. Total 9 units have been sold before completion and 6 Units remained unsold. Total cost of construction as incurred by the developer is 1,50,00,000/- (1.5 Crore). Per flat construction cost is 10 Lakhs.
Selling price of the 1st Agreement nearest to JDA is 20 Lakhs
Unit 1 and 2 Sold for 20 Lakhs, Unit 3,4,5,6,7,8,9 sold for 25 Lakhs (Unit No 7 and 8 are of Landlord)
Selling Price of 9th Unit nearest to completion Date is 25 Lakhs
Please give me GST Payable amount under RCM on unbooked Flats ?
Please give me GST Payable amount on construction service provided to Landowner
GST Payable by developer on his sales ?
Selling price of the 1st Agreement nearest to JDA is 20 Lakhs
Unit 1 and 2 Sold for 20 Lakhs, Unit 3,4,5,6,7,8,9 sold for 25 Lakhs (Unit No 7 and 8 are of Landlord)
Selling Price of 9th Unit nearest to completion Date is 25 Lakhs
Please give me GST Payable amount under RCM on unbooked Flats ?
Please give me GST Payable amount on construction service provided to Landowner
GST Payable by developer on his sales ?
Dhirajlal Rambhia
(Expert)
09 June 2023
Kindly refer: https://taxguru.in/goods-and-service-tax/joint-development-agreement-jda-gst.html
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