GST RATE ON LANDOWNER SHARE

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..... GST RATE ON LANDOWNER SHARE
Query (Issue) Started By: - NAMAN DOKANIA Dated:- 13-4-2022 Last Reply Date:- 17-4-2022 Goods and Services Tax - GST
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GST
A builder is constructing .....

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..... flats by entering into the development agreement in the year 2017 and opts for old rate of tax by filing of Annexure 4 before 01.04.2019, thus charging GST@12% to the customers Now, the building is c .....

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..... omplete and he is handing over the Flat to the Landowner. What rate of GST shall be charged or payable and at what rate?? Whether the same will be 12% or 18%? Please clarify with proper notification .....

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..... if possible. Reply By Shilpi Jain: The Reply: The rate of tax will depend on the valuation adopted. If the first sale value is adopted i.e. a value which has land value included, 12% rate should b .....

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..... e applied. Else in case a value where land value is not included, is adopted, rate of tax would be 18%.
Discussion Forum - Knowledge Sharing .....

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