Transferable Development Right (TDR) certificate

787 views
User Avatar

Tax Consultant
39 Points Posted on 17 June 2024

Client received TDR certificate in lieu of land surrendered to the competent authority.

1. Whether GST is applicable on sale of such TDR Certificate ? If yes then under what provision and rate of GST?

2. Valuation of such TDR certificate for purpose of GST?

3. Whether 50C of income tax act is applicable in such case?

Note - This question is in respect of Transferable development right certificate and not on Transfer of Development rights

1 Reply Share Follow
On 17 June 2024 at 23:31 Report
Replies (2)
Quick Summary
This discussion clarifies the Goods and Services Tax (GST) implications when a client receives a Transferable Development Right (TDR) certificate in exchange for surrendered land. It delves into whether GST applies to the sale of these certificates, the relevant provisions and rates, and how to value them for GST purposes. The query also touches upon the applicability of Section 50C of the Income Tax Act in such scenarios.

User Avatar

1011 Points Posted on 18 June 2024
If buyer is developer builder and using in construction then no gst on forward transaction. dev Bui will pay RCM at 18 %.
if buyer is purchasing as a trader then forward tax 18 %.
valuation is transaction value not less than ready reckoner value.
Reply
On 18 June 2024 at 08:12
User Avatar

Tax Consultant
39 Points Posted on 18 June 2024

Sir, can you share the relevant provision of GST Act also

Reply
On 18 June 2024 at 13:55

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Income tax or capital gain tax for Resident Indivi
  2. PCIT-1 Thane Email address
  3. CA Fees deduction for non audit case allowed?
  4. 5th Letter PAN Mismatch with Surname issues still
  5. Criteria to hire an article
  6. Guidence requested for a Finance Professional with
  7. Expert Opinion Required – Form 140 Gross Amo
  8. WRONG TAX DEMAND - formal responses , rectificatio
  9. Foreign remittance
  10. Affordable Residential Flats in Gurgaon

More recent discussions | Post

Related Topics :

Loading