Dear sir,
Registered person has entered JDA with the builder in the year 2018 and in that Landlord portions was already marked, now the project was commenced 2019 site formation etc, what is the liability(rate of tax) of the landlord on their portion of the flats earmarked in JDA and landlord is liability to pay(rate of tax) on construction service rendered by builder. Now Landlord getting advances from prospective buyers.
GST on Landlord's Flats in JDA: Liability Arises on Transfer of Rights per Notification 4/2018; 18% Total GST Rate A registered person entered into a Joint Development Agreement (JDA) with a builder in 2018, with the project commencing in 2019. The query concerns the GST liability on the landlord's portion of flats and the construction services provided by the builder. According to Notification No. 4/2018-Central Tax (Rate), GST liability arises when possession or rights are transferred via a conveyance deed. The applicable GST rate is 9% CGST and 9% SGST. Further discussion includes scenarios involving government authorities and the treatment of advance payments as consideration, which are subject to GST upon finalization. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
