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
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
(Expert)
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.
12% GST applicable including land value.
ITC on input material and services used in construction has to be passed on to you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- Employee secondment
- GSTR9 Annual Return
- Rent agreement of House of deceased person
- Form 144 TDS Return Validation error
- IMS (import of goods) ITC related
- GST ITC as per notification 12/2023- central tax
- Form 144 TDS Return Validation Error – Mandatory Fields
- Applicability of tax on invoice
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
