Home Forum Goods and Services Tax - GST Month 1 2021 2021 (1) This
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GST on Land Owner's share - Goods and Services Tax - GSTExtract Sir, Land Owner entered into deveopment agreement with the developer for construction of residential complex. Developer's share is 7 flats and paid gst on his portion of 7 flats and land owner's share is 5 flats . The developer paid GST on 4 flats and claimed exemption on 1 flat as it was sold after getting Occupation certificate before . The above issue pertains to the the period prior to 31.03.2019.In this clarification may please be provided on the following: 1. on the land owner's share , who is required to pay GST whether land owner or developer 2. If Developer is to pay GST on Land Owner's share, what is the value to be adopted for payment of GST 3. Whether exemption for flats sold after getting OC is applicable to land owner's share of flats. Relevant Notifications/ Circulars/AAR may please be provided.
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