GST QUERY ON JOINT DEVELOPMENT AGREEMENT
This query is : Resolved
YOGESH LALWANI
(Querist)
20 July 2021
GST Query :
In Case of Joint Development Agreement entered between Landowner and Builder/Developer for purely commercial project on area sharing basis :
1. Whether GST is Payable on JD Agreement entered between Landowner and Developer and on what amount
2. Whether GST is payable on Landowners share of Shops
3. Whether GST is payable after completion certificate is received on Landowner Share of Shops and Builders/Developers Share of Shops.
4. Whether ITC is to be reversed in any condition
In Case of Joint Development Agreement entered between Landowner and Builder/Developer for purely commercial project on area sharing basis :
1. Whether GST is Payable on JD Agreement entered between Landowner and Developer and on what amount
2. Whether GST is payable on Landowners share of Shops
3. Whether GST is payable after completion certificate is received on Landowner Share of Shops and Builders/Developers Share of Shops.
4. Whether ITC is to be reversed in any condition
CA Altamush Zafar
(Expert)
25 July 2021
1) RCM applicable
2) If landowner sells his share before completion then GST applicable
3)If amount received before completion then GST applicable otherwise not
4) There can be many situation.
My suggestion would be that you should take a proper professional opinion on this.
2) If landowner sells his share before completion then GST applicable
3)If amount received before completion then GST applicable otherwise not
4) There can be many situation.
My suggestion would be that you should take a proper professional opinion on this.
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