Dear All,
On Joint Developmnent agreement As per KVAT Circular No. 12/2009-10,The Consideration is to be taken as Value of Undivided Share of Land transferred by Land Owner to Developer. Now it that is taken as consideration for the Joint Development agreement. What will be the Time of Sale? If Time of Sale is Periodical as and when the goods are incorporated in the works contract, the how will the value of undivided share of land is taxed as part of Joint Development agreement as per the Circular.
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