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Gst on Fsi
my client in real estate business. He paid fsi fee to muncipal corporation. my query is that fsi is taxable under reverse charg. if yes under which notification if not why? this fsi is not purchase from other party. please advice. thank you.
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Quick Summary
https://getswipe.in/blog/post/gst-on-sale-of-tdr-fsi-received-for-surrendering-joint-rights-in-land#:~:text=Therefore%2C%20any%20sale%20of%20TDR,rights%20in%20land%20is%2018%25.
The promoter shall be liable to pay tax at the applicable rate, on reverse charge basis, on such proportion of value of development rights or FSI (Including additional FSI) or both, or upfront amount (called as premium, salami, cost, price, development charges or by any other name) paid for long term lease of land
https://www.taxmann.com/post/blog/gst-on-real-estate-tdr-fsi-and-long-term-lease-of-land/#:~:text=The%20promoter%20shall%20be%20liable,term%20lease%20of%20land%2C%20as
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