Gst On Collaboration Agreement

For dwellings built by the developer and the agreement with the owner of the registered land, the GST must be paid by the developer so that the developer can benefit from the prices provided for at No. 11/2017, in accordance with points (i), (i), (i), (i), (i), (ib) and (id). Sir, on October 10, 2020, I entered into a development agreement with the owner of the land-sharing base 38:62. I have little doubt as to the GST applicable in this transaction. 1. What will be the GST applicable to project comletion – In this owner do NOT claim ITC 2.Who should carry the GST – owner or landowner 3.What is the applicable GST rate for affordable housing, in the carpet area is < 1000Sft 4.Landloard receives its share of apartments – does it have to pay GST, while the sale of the apartments after receiving the certificate of occupancy 5. If the Landloard sells part of its share of apartments before receiving OC – What will be the applicable GST. Pls clarify the doubt with your specialized expertise. Should be treated as a long-term service and depending on the conclusion of the event by appointment will determine the delivery time Thus, in fact, the FSI consideration would be paid for the dwellings that the agreement with the unregistered landowners would not be responsible for GST. In this case, the taxpayer and the landowner completed a JDA for the development of land in residential land as well as amenities. The distribution of income between the taxpayer and the landowner is 25% and 75% respectively. The cost of development has been borne by the taxpayer. The taxpayer also entered into an agreement with customers for the sale of land built for compensation.

The subject has requested a preliminary decision as to whether it is a JDA, i.e. a common development contract, the revenues are taxed in the year in which you receive the final certificate. In the previous update, we have put at stake the fiscal viability of common development agreements under the GST regime. With this update, we would like to list the provisions relating to the delivery date and evaluation of the service in relation to the joint development agreements.

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