TaxTMI 
TaxTMI 
GST on re - development
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....ST on re - development<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 9-5-2019 Last Reply Date:- 13-5-2019 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>XYZ Co-Op Housing Society Limited has done Redevelopment Agreement with PQR (Developer). XYZ entered in - Redevelopment Agreement in July 2015, which was registered also. In Feb 2019 -Redevelopment was completed and Occupati....
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....on Certificate was received. Now Developer is asking for GST for the NEW CARPET AREA @ CONSTRUCUTION COST @ 8% GST. Is the developer right in asking for GST? Reply By Alkesh Jani: The Reply: Sir, I am of the view that once Occupation certificate or any other certificate issued by the competent authority (as it is different from state to state), it can be said that service is being completed and....
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.... hence after the certificate no GST is liable. Our experts may like to offer their comments. Thanks With Regards, Reply By Ganeshan Kalyani: The Reply: GST is applicable on milestone in construction service. If there is any payment made during GST era and the OC was also not received at the time of payment, then GST is applicable. Reply By KASTURI SETHI: The Reply: Dear Sir, Will you ment....
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....ion some crucial terms and conditions of "Redevelopment Agreement" ? What do you mean by "redevelopment" here ? As per literal meaning, "there was already development of land" ? Then issue has to be examined in new perspective. There must be reason for asking for 8% GST by the developer ? Without going through the crucial clauses of the agreement, correct reply is not....
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.... possible. Pl. revert.<br> Discussion Forum - Knowledge Sharing ....