Construction of Parking lot for Municipal corporation against TDR

[Ashish Diwedi]

We have started construction of parking lot in 2011. Against the construction of parking lot, we are supposed to get TDR from the Municipal Corporation. We have received OC for the same in Feb 2021. We have taken ITC in respect of inputs / input services that has gone in the construction of parking lot from July 2017. Are we supposed to pay GST on construction or parking lot? If yes, on what value?

AI Summary

GST on Parking Lot for Municipal Corporation: Rule 30/31 Valuation and Sections 13/14 Considerations A discussion on a forum addresses the GST implications for a parking lot constructed for a municipal corporation in exchange for TDR. The construction began in 2011, and an occupancy certificate was received in February 2021. The issue raised is whether GST is payable on the construction, and if so, how to determine the value. One participant suggests using Rule 30 or 31 of the CGST Rules, 2017, for valuation. Another proposes considering the pre and post-GST era work completion to determine GST liability, but this is countered by referencing Sections 13 and 14 of the CGST Act.