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VALUATION OF CONSTRUCTION SERVICE, Goods and Services Tax - GST

Issue Id: - 117275
Dated: 10-6-2021
By:- NAMAN DOKANIA
VALUATION OF CONSTRUCTION SERVICE

  • Contents

What will be the valuation of Construction Service of area handed over by Developer to Landowner at the time of Completion Certificate or Occupation Certificate??

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Showing Replies 1 to 2 of 2 Records

1 Dated: 11-6-2021
By:- Shilpi Jain

Value would be the sale value of any unit in the project closer to the date of JDA less 1/3rd (deemed value of land)


2 Dated: 13-6-2021
By:- ABHISHEK TRIPATHI

Dear Sh. Naman Ji,

Notification 11/2017 (Rate), creates a deeming provision in respect of the value of the land. In my view, deeming 1/3rd of the value is contrary to the valuation provisions. In most cases, the value of the land exceeds 33.33%. According to the notification, if your supply is INR 100, the supply of service will be 66.67 and the land value will be 33.33%. Such straightjacket approach of the notification is against the valuation provisions.

The same contention was raised in Munjaal Manishbhai Bhatt v Union of India [I think its pending before Hon’ble Gujarat HC].


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