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TMI BlogValue on commercial building developed on sharing basisX X X X Extracts X X X X X X X X Extracts X X X X ..... Value on commercial building developed on sharing basis X X X X Extracts X X X X X X X X Extracts X X X X ..... T X X X X Extracts X X X X X X X X Extracts X X X X ..... etion of the building, both the developer and landowner are leasing their share of building. In such a scenario, on what value the GST is required to be paid as there is no intention to sale the devel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oped property in the instant case. It is clear that the rate of GST on commercial construction is 18% in terms of the Notification No.11/2017-Central Tax (Rate) as amended. Teh experts may please thro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugh light on this issue Thanks in advance. Reply By KALLESHAMURTHY MURTHY: The Reply: Dear Sir, 1. The developer has provided construction service to the Land Owner. Hence, attracts GST on la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd owner. The developer has received TDR, on which tax is liable to be paid. 2. Renting of commercial property is considered as a supply of service under the GST Act and is taxable @18%. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case the tenant is an unregistered person, the supplier of service has to pay tax under RCM.
This is for educational purposes, not a legal opinion. X X X X Extracts X X X X X X X X Extracts X X X X ..... Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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