Hello experts,
What is the GST liability of land owner in case of Joint development agreement? How much is the rate? Also what parameters have to be considered in arriving at the value for calculating GST?
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Land owner liability
Replies (3)
"Q.16) Whether GST is payable on the owner's share of the flats/houses/portion of the building constructed by the builder/developer and given to the land owner as per the development agreement?
Ans. 16:- The builder/developer is liable to pay GST even on the share of the land owner and given in lieu of the land received for the development, besides GST on the builder/developer's share of the complex/building.
FAQ released by CBEC.....
i.e. GST is payable even on landowner's share of flats. Liability is over developer.; whether it is collected from landowner or not..... depends upon agreed terms between both of them.
Thank you so much. this helps.
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