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Development services supplied to landowners under a joint development agreement are taxable outward supplies subject to GST under the forward charge mechanism. Eligible input tax credit on goods or services used or intended for business may be utilised to pay GST on those services, subject to statutory conditions and restrictions. Eligible credit need not be reversed, while ineligible credit must be reversed under the Act and Rules. Advance ruling jurisdiction is limited to the matters specified in section 97(2); procedural invoicing methodology and compliance requirements fall outside its scope when they do not concern statutory valuation or another listed matter.
Development services supplied to landowners under a joint development agreement are taxable outward supplies subject to GST under the forward charge mechanism. Eligible input tax credit on goods or services used or intended for business may be utilised to pay GST on those services, subject to statutory conditions and restrictions. Eligible credit need not be reversed, while ineligible credit must be reversed under the Act and Rules. Advance ruling jurisdiction is limited to the matters specified in section 97(2); procedural invoicing methodology and compliance requirements fall outside its scope when they do not concern statutory valuation or another listed matter.
Note: It is a system-generated summary and is for quick reference only.
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