https://www.taxtmi.com/caselaws?id=467343 Paragraph 2 of Notification No. 11/2017-Central Tax (Rate) is read down so that its one-third deeming fiction treating one-third of consideration as land operates as an optional rule where the actual value of land or undivided share is not ascertainable; where land or construction value can be ascertained or derived using valuation rules, the deeming fiction does not apply mandatorily. An earlier administrative ruling that treated the one-third deduction as mandatory is set aside to the extent it ignored the option and ascertainability principles. en-us Fri, 18 Aug 2023 00:00:00 +0530 Sat, 14 Mar 2026 18:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467343 Paragraph 2 of Notification No. 11/2017-Central Tax (Rate) is read down so that its one-third deeming fiction treating one-third of consideration as land operates as an optional rule where the actual value of land or undivided share is not ascertainable; where land or construction value can be ascertained or derived using valuation rules, the deeming fiction does not apply mandatorily. An earlier administrative ruling that treated the one-third deduction as mandatory is set aside to the extent it ignored the option and ascertainability principles. Case-Laws GST Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467343