https://www.taxtmi.com/forum/issue?id=116671 Whether GST applies hinges on whether the developer effects a transfer of ownership or only conveys limited rights/contractual privilege. A transfer of ownership is more likely to be taxable under GST, whereas an "agreement to sell" that confers only a privilege may not attract GST. If GST applies, the taxable base depends on whether the developer's role is a transfer of property (entire consideration) or a service/brokerage (taxable on the developer's margin). Income-tax treatment likewise depends on whether turnover is characterized as full sale consideration or only the margin earned. en-us Fri, 28 Aug 2020 13:25:09 +0530 Thu, 23 Jan 2025 15:54:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116671 Whether GST applies hinges on whether the developer effects a transfer of ownership or only conveys limited rights/contractual privilege. A transfer of ownership is more likely to be taxable under GST, whereas an "agreement to sell" that confers only a privilege may not attract GST. If GST applies, the taxable base depends on whether the developer's role is a transfer of property (entire consideration) or a service/brokerage (taxable on the developer's margin). Income-tax treatment likewise depends on whether turnover is characterized as full sale consideration or only the margin earned. Discussion-Forum GST Fri, 28 Aug 2020 13:25:09 +0530 https://www.taxtmi.com/forum/issue?id=116671