if open land is developed with a wire compound,road,drainage system.
and
then , sold into pieces of 1 gunnthas to various customer..
in this scenario,
1) sale of plots attracts GST?
2) if Gst applicable,can I show separate land value and land development charges in invoice while sale to avoid Gst on land value as sale of land is not a supply ?
thanks in advance,
Santosh
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gst on plotting
Replies (4)
NO GST ON LAND SALE,... AS PER SCHEDULE III , ITS NEITHER A SUPPLY OF GOODS NOR A SUPPLY OF SERVICE
sir thanks for reply...but what about development charges done on land???
If consideration recieved after development of land, then GST shall not be applicable as it is sale if land. But if received before development, then it is works contract, taxable as a service. You should issue two seperate bills: one for sale of land and the other for development charges.
Agreed with the above views.
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