Where have to we declare landlord share value
This query is : Resolved
YELLANKI RATHNAGIRI
(Querist)
05 May 2022
Mr. X is landlord and Mr. Y is builder
They have entered in to Joint Development Agreement
Mr. Y will Construct total 10 flats (7+3)
7 for builder and 3 for land lard
Here builder has to pay GST on all flats (7+3)
Each flat sale value is 15,00,000
doubt:
here builder will collect consideration for 7 flats due to he directly sales to customers and he can pay GST and he shows as sales in GSTR1 and GSTR3B
he is ready to pay GST on remaining 3 flats but he did not take any consideration from landlord, then where we can show this transation in GST Return
They have entered in to Joint Development Agreement
Mr. Y will Construct total 10 flats (7+3)
7 for builder and 3 for land lard
Here builder has to pay GST on all flats (7+3)
Each flat sale value is 15,00,000
doubt:
here builder will collect consideration for 7 flats due to he directly sales to customers and he can pay GST and he shows as sales in GSTR1 and GSTR3B
he is ready to pay GST on remaining 3 flats but he did not take any consideration from landlord, then where we can show this transation in GST Return
CA R SEETHARAMAN
(Expert)
05 May 2022
Raise 18% GST tax invoice on land owner on 15 lacs less land value as construction cost .
Show it in GST return as construction services provided.
Show it in GST return as construction services provided.
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