cases of property& developers
UTTAM BARANWAL (14 Points)
10 May 2018
Plz inform me ......What is the cases of Gst rate ....under property& developers
UTTAM BARANWAL (14 Points)
10 May 2018
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 10 May 2018
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 10 May 2018
However, as the supply of service in relation to construction of Flat/House/Complex also involves transfer of “land/undivided share of land” which do not attract GST, the value of such land/undivided share of land shall be deemed to be 1/3rd of the total amount charged for such supply, as provided in Para 2 of the said Nfn. No:11/2017-CT ( R) dt: 28.06.2017. This implies that GST on a Flat/House/Complex [for which a part or total consideration is received prior to issue of a completion/occupancy certificate or it‟s first occupancy, whichever is earlier], shall be 2/3rd of the total consideration charged for such supply (thus GST is payable @ 12%
CAclubindia
