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gst rate applicability on development of apartments

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..... gst rate applicability on development of apartments
Query (Issue) Started By: - RameshBabu Kari Dated:- 19-2-2018 Last Reply Date:- 21-2-2018 Goods and Services Tax - GST
Got 4 Replies
GST
Dear Experts, In case of real estate, land owner gives development rights to the developer/builder to develop the land owned by the landowner. The built up area of the complex/apartment shall be sh .....

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..... ared by the land owner and the builder upon an agreed ratio. In such case, What would be the gst rate applicable on the share of landowner as well as on direct sale of builder to others ? In this case, what would be the eligibility of ITC on the purchases of materials for construction to the builder ? What are the gst applicability in joint development agreement ? and If the land owner and cons .....

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..... truction of the appartments are the same, what gst rate cab applicable on sale of such appartment/complex ? Please clarify with related provisions and notifications. Reply By Alkesh Jani: The Reply: Sir, Please refer Notification No. 04/2018-CGST (Rate) dated 25/01/2018. Reply By RameshBabu Kari: The Reply: Dear Alkesh Jani, My question is not about time of supply. The query is very specifi .....

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..... c to the rate of gst which can be applicable on sale of apartment and does the same rate applicable to landowner for his share ? Reply By Alkesh Jani: The Reply: Sir, Answer is yes, as the supply against the consideration. Reply By Ganeshan Kalyani: The Reply: 18% rate.
Discussion Forum - Knowledge Sharing .....

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