GST ON JOINT DEVELOPMENT AGREEMENT

This query is : Resolved

D SONAWANE (Querist)
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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 ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 June 2023 Kindly refer: https://taxguru.in/goods-and-service-tax/joint-development-agreement-jda-gst.html

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