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AI Drafter

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

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The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
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Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
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• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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Joint Development Agreement valuation

JIGAR SHAH

If a land owner has entered into a joint development agreement with the builder and has also registered himself under GST, but the receipts are not certain, what will be taken as taxable value to charge GST and what will be time of supply?

Should we consider date of joint development agreement as time of supply, if so what will be taxable value to charge GST?

Time of supply under joint development agreements: use the agreement date and apply the GST rate prevailing then. Treat the date of the joint development agreement as the time of supply; apply the GST rate prevailing on that date when receipts are uncertain. No alternate valuation method is provided. (AI Summary)
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DR.MARIAPPAN GOVINDARAJAN on Feb 11, 2019

In my view you may consider the date of joint development agreement as the time of supply. The GST rate as prevailing on that date may be taken.

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