Gst on third party transfer of MIDC plot proceeds
This query is : Resolved
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.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
