TaxTMI 
TaxTMI 
GST on TDR proportionate to commercial apartments in RREP
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....ST on TDR proportionate to commercial apartments in RREP<br> Query (Issue) Started By: - Narayan Pujar Dated:- 12-11-2024 Last Reply Date:- 14-11-2024 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>Hi, While GST exemption on Transfer of Development Rights (TDR) apply to sold residential apartments, they do not extend to commercial apartments. However, in the context of a Residential Rea....
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....l Estate Project (RREP), commercial units are treated similarly to residential units. Why, then, is there a differential treatment in GST between residential and commercial units with regard to TDR exemptions? Reply By Shilpi Jain: The Reply: Agreed. It looks like this has been missed. This is adding on to the cost since one would not get credit for the GST paid on TDR for these commercial units....
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.... in RREP. Additionally, I think the Government should make TDR for commercial units (whether REP or RREP) same as for residential units i.e. 5% only on unsold and not give credit since there is a lot of hassel in having to pay 18% GST on TDR and that too only by using electronic cash ledger and then take credit. So a representation through associations is the need of the hour for these kind of i....
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....ssues which can bring some attention to these issues and some sensible solutions. Reply By Narayan Pujar: The Reply: Thank you for your response, Ma'am. One not so related question. In a JDA, a landowner transfers the development rights to developer in exchange of newly constructed apartments. However, the other day I saw an agreement wherein the landowner has sold the land itself in exchan....
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....ge of apartments/shops. Why are not such agreements popular as the JDAs? Does it have any parallel implications in other laws?<br> Discussion Forum - Knowledge Sharing ....