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GST on transfer of development rights


Suresh Sharma   24 February 2020

Suresh Sharma

 1 likes  6 points

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Development agreement has been entered by builder sometimes in 2005. Some phase of the project is in the process of completion and completion certificate have not been received yet. The developer is selling their share of flats and charging 12 % GST from buyers as opted to charge GST under old system with GST input credit. The share of land owners is to be given by way of allotment letter in consideration of transfer of development rights in land.

kindly advise the GST liability of developer and Land owner under present law of GST as amended .

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