Sale of land

[Prudhvi Jakkula]

Dear experts,

A sold land to B. Consideration for the same will be paid by B in 2 forms

a) Partly in cash

b) For remaining amount instead of paying cash, B offers some flats to A.

Now the problem is if B paid entire amount in cash, the transaction will not attract GST because of scheduleIII. If he offers flats it will become JDA.

As he is paying partly in cash and partly by flats, what will be the GST Implications?

Please solve my query.

AI Summary

Treatment of land sale under Schedule III: non-taxable, while under-construction flats given as consideration are taxable under GST valuation rules.
Sale of land by A to B is not a taxable supply under Schedule III regardless of mode of consideration; where consideration includes flats, treat the transaction as two supplies: the land transfer (non-taxable) and the supply of flats by B to A, with ready-made flats not attracting GST and under-construction flats treated as taxable services subject to GST valuation rules.