Gst on flats allotted to members

[shwetal oswal]

In case of self redevelopment by society itself, whether gst needs to be charged on flats allotted to existing members ?

AI Summary

Debate on GST Applicability for Flats in Self-Redevelopment: Clause (aa) of Section 7(1) CGST Act 2017 Explored A discussion on a forum addressed whether GST applies to flats allotted to existing members during self-redevelopment by a society. One participant argued that GST should be charged based on Clause (aa) of Section 7(1) of the CGST Act, 2017. Another noted that GST is not applicable if the completion certificate is issued before allotment. The debate included interpretations of taxable services under Schedule II and the timing of consideration receipt. The conversation also touched on determining the value and time of supply for such flats, questioning whether it should be based on fair market value at the agreement or allotment date.