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10 sie 2022 · In view of recent clarification by the Central Board of Indirect Taxes through its Circular vide No. 177/09/2022 TRU dated 3rd August 2022, there is once again buzz in the real estate sector about the GST implications on development and sale of plots.
31 paź 2023 · This article provides a comprehensive analysis of GST in the real estate sector, exploring various tax options, joint development rights and agreements, as well as specific scenarios like the sale of plots and slum rehabilitation.
13 maj 2024 · An overview of GST on real estate transactions, highlighting that sales of developed plots with included development costs are not taxable, and actions or tolerances are not covered under GST.
Development charges levied separately should be taxable - If the promoter/developer charges separately development charges, then obviously GST is payable on development charges @ 18%.
28 gru 2023 · This article delves into the intricate details of the GST impact on the sale of land and developed plots. Tax Rates on Under-construction and Affordable Housing. In the realm of under-construction properties, a uniform GST rate of 12% prevails. However, completed properties are exempt from GST.
development of plots is not covered under the exemption entry and accordingly taxable. Even assuming that plots are covered under the ambit of ‘residential apartment’, on a reasoning that the plots will be
In the previous article, we took up to deal the tax implications on development of plots, wherein, we have identified four transactions which are common to any development agreement: Transaction I - Transfer of Development Rights (TDR) by landowner to developer . Transaction II - Construction Services provided by developer to landowner
