Gst on third party transfer of MIDC plot proceeds
This query is : Resolved
Vijay Gawande
(Querist)
03 January 2025
Industrial bodies have requested reduction or abolition of gst on such transactions.Any clarification has come into force.
In fact leasing activity is done by MIDC not buy the seller, hence such taxation is not justified in addition to stamp duty.Please clarify.
In fact leasing activity is done by MIDC not buy the seller, hence such taxation is not justified in addition to stamp duty.Please clarify.
Dhirajlal Rambhia
(Expert)
03 January 2025
As of now, there has been no official clarification or change in the GST rate on MIDC industrial plot transactions. The government continues to treat these transactions as leases, which are considered services and thus subject to GST.
This issue has been a point of contention, with tax consultants questioning the GST department's approach. The situation remains that:
Original allotment by MIDC is not subject to GST.
Subsequent transfers or leases of the plot by the original allottee are subject to 18% GST.
This issue has been a point of contention, with tax consultants questioning the GST department's approach. The situation remains that:
Original allotment by MIDC is not subject to GST.
Subsequent transfers or leases of the plot by the original allottee are subject to 18% GST.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Tax on Amount transferred in HUF Account
- Intimation under section 245
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
