The taxpayer is engaged in the business of real estate development. The members of the society had handed over their old flats to the developer under a redevelopment project. As per the terms of the redevelopment agreement, the construction was originally agreed to be completed within a period of four years. However, owing to mismanagement on the part of the developer, the project was delayed beyond the stipulated period. In order to compensate the society members for such delay, the developer paid an additional amount over and above the agreed monthly rent. Whether such additional consideration paid by the developer to the society members is liable to GST ?
CAclubindia
