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2021 (9) TMI 1292 - AAAR - GSTValuation of supply - transaction of sale of residential/ commercial property with undivided rights of land - construction of residential/commercial complex - builder charges an amount which is inclusive of land or undivided share of land - actual cost of Land can be deducted for the for the purpose of arriving at the taxable value of supply or not - HELD THAT:- In para 2 of N/N. 11/2017-CT (Rate) dated 28.06.2017, as amended vide N/N. 1/2018-C.T. (Rate), dated 25-1-2018, there is deemed provisions that the value of transfer of land or undivided share of land, as the case may be, and the value of such transfer of land or undivided share of land, as the case may be, in such supply shall be deemed to be one third of the total amount charged for such supply. Accordingly, the appellant contention to allow the deduction of actual value of land from the sale value on the grounds that their land value is ascertainable and other grounds is not legal in terms of para 2 of Not. No. 11/2017-CT (Rate) dated 28.06.2017 as amended vide Not. No. 1/2018-C.T. (Rate), dated 25-1-2018. The reliance of Rule 18(A)(A) of the erstwhile Gujarat Value Added Tax Rules, 2006 is unjustified in the instant case since the Value Added Tax Act has been subsumed with GST Act. The Value Added Tax Act does not have any legal value in determination of GST liability since the value of supply is to be arrived in terms of the provisions of the GST Act. Appeal dismissed.
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