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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.
20 sie 2024 · This article analyses the impact of GST on the sale of land, sale of developed plots and the leasing of land, along with the availability of ITC.
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 ultimately used for residential apartment, it would be hard to satisfy the exemption entry since the
13 maj 2024 · 2. Sale of developed plots by including development cost in sale value of plots is not taxable under GST. Often a developer purchases land, converts it into plots, develops it by providing internal roads, water drains, compound walls, health club, and then sales individual plots.
9 mar 2023 · The builder/developer buys the land and divide the same in different plots say in area of 2000 sq. ft. The common amenities like road, supply of electricity, sewage connection, water connection, garden, etc. is developed in the area.
3 wrz 2022 · Articles. GST and Sale of developed plots. CA Roopa Nayak , Last updated: 03 September 2022. Background. In the recent circular no. 177/09/2022-TRU it has been clarified that sale of land after leveling, laying down of drainage lines etc. is sale of land and does not attract GST.