If 3 partners come together and purchase a land give it to Developer and take 37% as there share....Do GST is Applicable to Land Owner...
IF No which Section....IF Yes which Section
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Joint Development
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For the transfer of development rights by the landowner, the landowner needs to pay 18% GST. The value on which GST is paid is decided per CGST Rule 27 and Section 15 of the CGST Act
After 1/4/2019 as per notification RCM applicable in case JDA (Joint Development Agreement ) , so please inform , Is it residential project or Commercial project or both ? . or take others opinion as well .
According to joint development agreement there is a seperate agreement. it has to be taken into consideration.
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