https://www.taxtmi.com/caselaws?id=419868 The AAR Karnataka ruled on GST valuation for immovable constructed commercial property sales where land exceeds 500 square meters or proposed apartments exceed 8 units. The authority held that transaction value mentioned in the sale deed should be considered as taxable value under Section 15(1) of CGST Act, 2017, rather than guidance value fixed by state authorities for registration purposes. The GST Act treats transaction value as supply value unless rejected under Section 15 provisions. For apartments, land value is fixed at one-third of apartment value per Notification No. 11/2017-Central Tax (Rate). en-us Mon, 14 Mar 2022 00:00:00 +0530 Tue, 01 Apr 2025 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419868 The AAR Karnataka ruled on GST valuation for immovable constructed commercial property sales where land exceeds 500 square meters or proposed apartments exceed 8 units. The authority held that transaction value mentioned in the sale deed should be considered as taxable value under Section 15(1) of CGST Act, 2017, rather than guidance value fixed by state authorities for registration purposes. The GST Act treats transaction value as supply value unless rejected under Section 15 provisions. For apartments, land value is fixed at one-third of apartment value per Notification No. 11/2017-Central Tax (Rate). Case-Laws GST Mon, 14 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419868