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GST UPDATE ON TREATMENT OF JOINT DEVELOPMENT AGREEMENTS - PART IV:-

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 1-12-2017 - Treatment of Joint Development Agreements in GST regime is very critical. In earlier three parts of this series, we have discussed the liability on account of builder and land ow .....

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the right to develop the land to the builder. The builder develops the land and undertakes the construction of flats. Once the flats are constructed, some of them are transferred to land owner and remaining are sold to independent buyers by the buil .....

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supply of service in view of clause 2(a) of SCHEDULE II of CGST Act, 2017. This clause reads as follows:- (a) any lease, tenancy, easement, licence to occupy land is a supply of services; The followers of this view are of opinion that transferring th .....

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d against transfer of land development rights is in form of flats received from the builder. Therefore, holding this view, there will be liability to pay tax on the transfer of land development rights. Another school of thoughts is of the opinion tha .....

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schedule III covers the sale of land. Therefore, where a transaction is of sale of land, it will be outside the purview of GST. This school of thought is of the view that the transfer of land development rights is nothing but an agreement in which ul .....

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w the same will be valued and how the consideration for the same will be determined. Also, will it be the case that consideration for builder will be land development rights against the transfer of flats to the land owner. Further, for land owner, th .....

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r. On construction of flats (whether sold to land owner or transferred to independent buyer) in accordance with schedule II [clause 5(b)] - GST will be payable by the builder. On further sale of flats by land owner from his share of received flats - .....

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