9911796707
TMI Blog2021 (2) TMI 42X X X X Extracts X X X X X X X X Extracts X X X X ..... onsidered. - AAR No. RAJ/AAR/2020-21/09 - - - Dated:- 24-8-2020 - J.P. MEENA AND HEMANT JAIN, MEMBER Present for the applicant : Not Applicable Note : Under Section 100 of the CGST/RGST Act, 2017, an appeal against this ruling lies before the Appellate Authority for Advance Ruling constituted under section 99 of CGST/RGST Act, 2017, within a period of 30 days from the date of service of this order. At the outset, we would like to make it clear that the provisions of both the GST Act and the RGST Act are the same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the CGST Act would also mean a reference to the same provision under the RGST Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uildings or otherwise and to provide construction and infrastructure activities and maintaining various residential, commercial and industrial parks and to purchase, acquire, take or give on lease or in exchange or in other lawful manner in India or abroad any area land, plots, buildings, structures, factories, farm houses and estates, real estates or interest therein and any rights over or connected with them and to develop the same for sale on installments or otherwise, or for any other purpose by preparing buildings sites and by constructing, altering, improving, developing, promoting affordable group housing flats and to equip them or any part thereof with all amenities or conveniences thereon and by consolidating or connecting or subdi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion shall be payable to LLP partners irrespective of time devoted. (e) A supplementary LLP agreement was executed on 10.05.2019 whereby 2 new partners were inducted and one existing partner had resigned as designated partner (f) The present partners and their share are as follows: (i) KGK constructions LLP 69.75% (ii) Mukesh Jain 0.25% (iii) Puneet Jain 20.00% (iv) Vimal Chand Surana 10.00% The copy of LLP agreement including supplementary agreement is at Exhibit -B ; (4) that the appellant is a legal owner of 15 Khasras of land in village N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10% 6. Road 35557.01 35.56% 7. Future Extension 71.34 0.071 Total Area 100000 100% (7) that the consideration for supply of plots to prospective buyer is estimated as follows: Details Amount (Rs.) Residential 42,04,21,285 Commercial 1,23,52,450 Retail Commercial 5,25,56,453 TOTAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of plots, commercial or residential by the developer applicant to the buyers shall be considered as taxable supply of goods or service under section 7 of CGST Act, 2017read with clause No. 5 of schedule Ill ? Q.2 In the event of ruling on Question 1 above is affirmative, what shall be the appropriate classification / HSN code / SAC Code for sale of land (plots) and applicable rate of GST. Q.3 In case the sale of plots is ruled to be a taxable supply, whether the developer applicant shall be eligible for availing input tax credit in terms of section 16 to 18 of CGST Act, 2017. C. WITHDRAWAL OF APPLICATION On behalf of the applicant, authorized signatory, submitted a letter dated 05.08.2020 addressed to this authority which wa ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
