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Joint Developement Agreement

This query is : Resolved 
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(Querist)
20 July 2022 A has entered in to Joint Development Agreement (JDA) with B for construction of 100% commercial premises on his land. B has allotted area to be constructed on the said plot. B has not given any monetary consideration to A against the JDA.

Query :
1. GST payable by A will be calculated on the cost of construction incurred by B for constructing the premises to be allotted to A
OR
2. On the market value of the premises on the date of obtaining Completion certificate from the Municipal authority.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
20 July 2022 Ans, 2 is correct...
Valuation shouls be as per Rule 27 of the Central Goods and services Tax Rules, 2017 read with section 15 of CGST Act, 2017.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 July 2022 Agreed with the above reply.
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