GST Returns - Builders

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This discussion clarifies how builders should declare values in their GST returns when selling property. The consensus is that the taxable value for GST purposes is the amount stated in the sale deed, not the higher value determined by the registration department. TDS is also paid on the sale deed amount.

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(Querist)
15 September 2021 One of my client (builder) sold a flat for Rs.96 Lakhs - in the sale deed this amount was mentioned. The Registration department's value is Rs.1.05 Crore and the buyer paid registrations amount on Rs.1.05 crore. Paid TDS on Rs.96 Lakhs @ 1% - What is the value I have to declare in GST returns

R S Sai kumar
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Udaya Chandran

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Udaya Chandran (Expert)
15 September 2021 The value mentioned in the sale deed is the taxable value of supply and GST is applicable on such value only.
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R S Sai Kumar

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R S Sai Kumar (Querist)
15 September 2021 Thank you very much Mr.Udaya Chandran
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