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TMI BlogGst on flats allotted to membersX X X X Extracts X X X X X X X X Extracts X X X X ..... In case of self redevelopment by society itself, whether gst needs to be charged on flats allotted to existing members ? - Reply By Amit Agrawal - The Reply = Yes. Gst needs to be charged on flats allotted to existing members in case of self redevelopment by society itself. Reference: Clause (aa) of Section 7 (1) of the CGST Act, 2017 . This is strictly personal view of mine and the same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should not be construed as professional advice / suggestion. - Reply By Ganeshan Kalyani - The Reply = Sir, if flat is allotted after completion certificate then GST is not applicable in view of Sch.III . - Reply By Amit Agrawal - The Reply = In my respectful submission, following is taxable services as per clause (b) of paragraph 5 of Schedule II (which is excluded from preview of clau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se (5) of Schedule III ): construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate , where required, by the competent authority or after its first occupation, whichever is earlier . And as per Exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lanation (2) thereunder, the expression construction includes additions, alterations, replacements or remodelling of any existing civil structure So, date of allotment of flat by the society to its members is not relevant when consideration there-against (even partly) is received by society from the members prior to issuance of completion certificate. Now, in any redevelopment of the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ociety, members first agree handling over their existing flats to the society (i.e. for demolition so as to start the redevelopment). And this very act of the members amounts to receipt of consideration (in kind) by the society from the members and same will always be before receipt of completion certificate of redeveloped flats. Hence, I continue to have view that GST needs to be charged on fl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ats allotted to existing members in case of self redevelopment by society itself irrespective of actual date of allotment of flats. These are strictly personal views of mine and the same should not be construed as professional advice / suggestion. And I fully respect contrary views. - Reply By shwetal oswal - The Reply = What will be the value of such flats? Will it be FMV as on the Date o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f agreement with the society or Date of allotment of flats ? And time of supply in such case? - Gst on flats allotted to members - Query Started By: - shwetal oswal Dated:- 23-6-2022 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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