Hello Sir, I (the landowner) have entered into Development agreement on 30th August 2017. As per our DA, GST on the landowner share is our liability. Do I have to register for GST. Is there any way I can use the ITC that I pay on GST?
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Gst on landowners share
Replies (2)
" Do I have to register for GST?
Yes.....
Is there any way I can use the ITC that I pay on GST?
No.
I need some guidance on land owners share for GST when OC was received on 26th feb 2017.
If a land owner enters in a JDA where developer in return provides 45% share in terms of units and the OC was received on 26th feb 2017 (prior to gst implementation). Does the land owner has to pay any GST to the builder?
If yes, then how much and how it can be calculated basis the share they receive?
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