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Please Give some examples

In charge of Gst chapter in sec 9(3) Rcm Give some example to Understand the provision of "Long term Lease of land(30 Years or more) by any person to a promoter for a construction of project


Pancha G

Pancha G

CA Inter

350

05-Mar-21 14:31

21

Answers (3)

Please go through the video in the module


sudha reddy

sudha reddy

Moderator

05-Mar-21 19:50

Please go through the video in the module

Ok mam


Pancha G

Pancha G

CA Inter

350

05-Mar-21 19:55

The developer provides money or a fixed quantity of flats to the land owner or share in the revenue from sale of the flats or combination of three. The landowner would not make any monetary payment to the developer , but only grant development rights concomitant to the land coupled with the agreement to transfer the proportionate land. Development Right (DR) refer to the rights that permit promoters to modify or improve their property within the limitations of the law. Exemption in the GST on transfer of TDR,FSI or Long Term Lease: As per Notification No.04/2019-CT(Rate) 29.3.2019 w.e.f.01.04.2019. It is exempt, except where entire consideration has been received after issuance of CC or OC. It may be noted that exemption is not available for construction of commercial apartments.


sudha reddy

sudha reddy

Moderator

06-Mar-21 09:46

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