JOINT LAND DEVELOPMENT

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This discussion addresses whether it's possible to claim a share exceeding one-third in a joint land development agreement. It also clarifies the Goods and Services Tax (GST) calculation on land shares, confirming that the net GST payable remains consistent regardless of how the share is calculated, provided the total value is understood. There's a favourable judgement mentioned, suggesting it may be possible to claim a larger share under certain conditions.

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(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
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
13 February 2023 1. Yes.
2. Whatever way you calculate net amount will be same.
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Suresh S. Tejwani

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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 ?
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CA Altamush Zafar

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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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