https://www.taxtmi.com/forum/issue?id=116233 Payments for FSI to local authorities are treated as exempt under the relevant notification and local authority functions; removal of "local authority" from a later notification raises transitional uncertainty. Land development rights are described as benefits arising from land and therefore immovable property under Schedule III (neither goods nor services), but prior rulings have treated them as services; if so, valuation is fixed by reference to similar apartments' prices charged to independent buyers nearest the transfer date. Related party transfers and input tax credit on capitalised development services are noted as open practitioner questions. en-us Sat, 25 Apr 2020 17:59:28 +0530 Thu, 23 Jan 2025 15:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116233 Payments for FSI to local authorities are treated as exempt under the relevant notification and local authority functions; removal of "local authority" from a later notification raises transitional uncertainty. Land development rights are described as benefits arising from land and therefore immovable property under Schedule III (neither goods nor services), but prior rulings have treated them as services; if so, valuation is fixed by reference to similar apartments' prices charged to independent buyers nearest the transfer date. Related party transfers and input tax credit on capitalised development services are noted as open practitioner questions. Discussion-Forum GST Sat, 25 Apr 2020 17:59:28 +0530 https://www.taxtmi.com/forum/issue?id=116233