9911796707
TMI Blog2018 (10) TMI 1142X X X X Extracts X X X X X X X X Extracts X X X X ..... unt received by the applicant is accounted in the books of accounts of the applicant as loan and advances. In absence of the supporting documents the amount received by the applicant has been considered as advances received towards sale of villa. The applicant has received advance towards sale of villa prior to issuance of completion certificate. Hence, the same is taxable under GST Act @ 12%. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Panaji - Goa seeking an Advance Ruling in respect of the following question: Determination of liability to pay tax on sale of villas after completion and obtaining necessary approvals from the competent authority . The applicant is a limited Liability Partnership Firm engaged in the business of building villas for sale in Goa and is having GSTIN 30AAAFU6041P2Z8. The applicant states th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st occupation whichever is earlier. In case of supply of services specified above involving transfer of property in land or undivided share of land, as the case may be, the value of supply of service and goods portion in such supply shall be equivalent to the total amount charged for such supply less the value of land or undivided share of land, as the case may be. Such supply shall be deemed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the applicant is accounted in the books of accounts of the applicant as loan and advances. In absence of the supporting documents the amount received by the applicant has been considered as advances received towards sale of villa. The applicant has received advance towards sale of villa prior to issuance of completion certificate. Hence, the same is taxable under GST Act @ 12%. ADVANCE RULI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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