Hello Dear experts
One of my client whose Housing society under went redevelopment in year 2017 and is now about to complete. However builder is of the view that society has to pay GST on transfer of TDR. wef April 2019 there was a notification that GST on such project is to be paid by builder. So i would like to have better calirifaction on that.
For a redevelopment project, the builder is responsible for paying 18% GST on the Transfer of Development Rights (TDR) under the Reverse Charge Mechanism. However, you can claim an exemption for the portion of the TDR utilized for residential apartments that are sold before the project receives its Completion Certificate. If units remain unsold at the time of the CC, GST must be paid on the TDR value proportionate to those unbooked units.
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