we have purchased land and planning to sale of developed industrial open plot of land (Developing like land leveling streetlight electricity Water Line drainage facility and RCC Road facilities etc.,)
Does the required GST registration? if yes, on which amount GST should be charged? including land value in land value OR only on additional services excluding land value?
what are the methods to calculate taxable value on which GST leviable. if we doesn't show amenities value separately from land value is there any obligation to show both values separately in any provision of GST?
This is a highly debated topic among professionals. Although as of now the department is treating sale of developed plots as sale of land and therefore it is treating it out of purview of GST. However many professionals are of the view that there is service involved in developing the plots and therefore it is taxable.
I would suggest you to take a proper professional opinion for this matter.
CAclubindia
