GST and Capital gain Tax in Joint Dev.Agreement on the share of land owner

[Asked by Guest]

I had 1500 SQM land,did JDA 2013 with builder in 35% and 65%.The guideline value of land in 2001-02 was 1200/- per SQM.Now the duplexes are ready for possession of my 35% share i.e.the 3 duplex (constructed area of 108.82,120.7,110.5=340.02 SQM)in lue of the whole land.The guideline value are land=22000/- per SQM and RCC roof house is 32000/-per SQM.Can any body tell me :1.How much GST to be given to builder by me (Land owner)

2.How much capital gain Tax is to be paid to IT Deptt

The fact is that I am not going to sell any duplex and will use 2 units for our residence and 1 unit had to gift to my close near relative.

[DR.MARIAPPAN GOVINDARAJAN]

You may approached the expert professionals in this regard.

AI Summary

GST liability on joint development: tax treatment of consideration-in-kind and capital gains on land-for-construction exchange.
Query concerns GST on consideration-in-kind under a JDA and computation of Capital Gains Tax when a landowner receives a 35% share of constructed units (three duplexes totaling 340.02 sqm) instead of monetary consideration; includes reference to historical and current guideline values for land and built-up area and notes two units will be occupied as residence and one gifted to a relative.