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Seeks to provide special procedure with respect to payment of tax by registered person supplying service by way of construction against transfer of development right and vice versa. - 04/2018 - Integrated GST (IGST) Rate
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Integrated tax liability timing: IGST on development-rights versus construction-service exchanges arises on transfer of possession by conveyance. Notification prescribes that where supply involves exchange between development rights and construction services, the liability to pay integrated tax on such supplies arises when the developer or builder transfers possession or the right in the constructed property to the person supplying the development rights, as evidenced by a conveyance deed, allotment letter or similar instrument.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Integrated tax liability timing: IGST on development-rights versus construction-service exchanges arises on transfer of possession by conveyance.
Notification prescribes that where supply involves exchange between development rights and construction services, the liability to pay integrated tax on such supplies arises when the developer or builder transfers possession or the right in the constructed property to the person supplying the development rights, as evidenced by a conveyance deed, allotment letter or similar instrument.
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