JOINT LAND DEVELOPMENT
This query is : Open
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Suresh S. Tejwani
(Querist)
13 February 2023
CAN WE CLAIM SHARE OF LAND MORE THAN 1/3 RD IN JOINT LAND DEVLOPMENT AGREEMENT ?
IF SHARE OF LAND MORE THAN 1/3RD I.E. 60 %
GST IS PAYABLE ONLY 7.2 % (40% OF 18) IS IT CORRECT
IF SHARE OF LAND MORE THAN 1/3RD I.E. 60 %
GST IS PAYABLE ONLY 7.2 % (40% OF 18) IS IT CORRECT
Dhirajlal Rambhia
(Expert)
13 February 2023
1. Yes.
2. Whatever way you calculate net amount will be same.
2. Whatever way you calculate net amount will be same.
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Suresh S. Tejwani
(Querist)
13 February 2023
IT MEANS TOTAL VALUE 1 LAKH. 60% SHARE OF LAND THAT IS 60,000
HENCE GST {40,000 *18 PENCENT=7,200} IS IT CORRECT ?
HENCE GST {40,000 *18 PENCENT=7,200} IS IT CORRECT ?
CA Altamush Zafar
(Expert)
13 February 2023
You may be able to now. There are certain conditions for it and there is a favourable judgement for it also.
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