Gst on land development

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2018 Hi,

I have purchased a land of 100 yards(registered aswell). and given this to development of apartment(They took it from 15-20 people and constructing apartment). as part of my land they offered me one flat in the apartment. Do I have to pay GST in this scenario, If yes what is the procedure, Please explain me briefly.

Thanks,
Dinesh

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 March 2018 You have to pay 18% GST less ITC of material and services on value of flat exclusive of land (as land belongs to you).
12% GST applicable including land value.
ITC on input material and services used in construction has to be passed on to you.