in GST I-17
BASICS OF GST 1
CONTENTS
I-5
BACKGROUND
TAXABLE EVENT IN GST
Acronyms
1.1 2
3 1.2 4 1.3 6 1.4 10 1.5 20 1.6 21 1.7 21 1.8 21 1.9 22 1.10 25 1.11 27 1.12 27
2.1 28 2.2 29
4.1 60 4.2 64 4.3 64 4.4 68 4.5 71 I-6
2.3 30 2.4 37 2.5 38 2.6 42 2.7 45 2.8 45 2.9 47 2.10 47 2.11 49 2.12 49 2.13 49 3
3.1 50 3.2 52 3.3 55 3.4 56 3.5 57 3.6 58 4
CLASSIFICATION OF GOODS AND SERVICES
VALUE OF TAXABLE SUPPLY OF GOODS OR SERVICES OR BOTH
INPUT TAX CREDIT WHEN EXEMPTED AS WELL AS TAXABLE SUPPLIES MADE
6.1 114 6.2 117 6.3 118 6.4 125 6.5 132 I-7
4.6 72 4.7 72 4.8 74 4.9 77 4.10 78 4.11 78 4.12 79 4.13 81 5
5.1 83 5.2 86 5.3 90 5.4 99 6
INPUT TAX CREDIT (ITC)
INPUT SERVICE DISTRIBUTOR (ISD)
8.1 145 8.2 146 8.3 148 8.4 149 8.5 149 9
PLACE OF SUPPLY OF GOODS OR SERVICES
7
7.1 133 7.2 135 7.3 138 7.4 142 7.5 144 8
9.1 152 9.2 156 9.3 158 9.4 159 9.5 162 9.6 162 9.7 i.e. 164 9.8 164 I-8
INPUT TAX CREDIT - OTHER ISSUES
175
166
164
173
TIME OF SUPPLY OF GOODS AND SERVICES 10.2 10.3 10.4 10.5 10.6 10.7
169 10
167
10.1 173
9.9 9.10 164 9.11 165 9.12 9.13 167 9.14 9.15 167 9.16 167 9.17 167 9.18 168 9.19 168 9.20
175
175
177 10.8 177 10.9 178 10.10 178 10.11 178 10.12 178 I-9
176
11.1 181 11.2 183 11.3 185 11.4 186 11.5 187 11.6 188 11.7 188 11.8 189
PROCEDURES IN GST 12.1 197 12.2 200 12.3 203 12.4 204 12.5 204 12.6 207 12.7 207 12.8 207 12.9 211 12.10 211 12.11 213 12.12 12.13 12.14 12.15
REVERSE CHARGE
11
12
219
220
219
220 I-10
12.16 220 12.17 220 12.18 222 12.19 223 12.20 223 12.21 224 12.22 229 12.23 231 12.24 235 12.25 236 12.26 238 12.27 238 12.28 244 12.29 245 12.30 248 12.31 256 12.32 256 12.33 259 12.34 264 12.35 272 12.36 276 12.37 278 12.38 281 12.39 285
I-11
13
MISCELLANEOUS ISSUES IN GST 14.2 337
14.1 332
TRANSACTIONS RELATING TO REAL ESTATE
13.1 293 13.3 13.4 13.5 310 13.6 313 13.7 317 13.8 317 13.9 319 13.10 320 13.11 324 13.12 331
310
286 13.2
TAXABILITY OF WORKS CONTRACTS AND REAL ESTATE TRANSACTIONS
307
14.3 344
14
15
E-WAY BILL FOR TRANSPORT OF GOODS
15.1 351 15.2 353 15.3 355 I-12
15.4 359 16
16.1 364 16.2 373 16.3 381 16.4 385 16.5 387 16.6 392 16.7 394 16.8 395 16.9 396 16.10 399 16.11 399 17
TDR/FSI/UPFRONT AMOUNT IN LONG TERM LEASE IN REAL ESTATE TRANSACTIONS
17.1 401 17.2 402 17.3 i.e. 403 17.4 404 17.5 407 I-13
REAL ESTATE SERVICES RELATING TO RESIDENTIAL AND COMMERCIAL APARTMENTS
18.1 428 18.2 431 18.3 434 18.4 434 18.5 435 19
LEASING AND RENTING OF REAL ESTATE
CONSTRUCTION AND WORKS CONTRACT SERVICES
19.1 436 19.2 436 19.3 446 19.4 451 19.5 453 19.6 456 I-14
17.6 408 17.7 414 17.8 415 17.9 418 17.10 418 17.11 419 17.12 423 18
19.7 456 19.8 463 19.9 463 20 GOVERNMENT RELATED ACTIVITIES 20.1 464 20.2 471 20.3 473 20.4 479 20.5 493 20.6 500 APPENDICES APPENDIX I : 509 APPENDIX II : 533 APPENDIX III : 544 APPENDIX IV : 581 APPENDIX V : 602 APPENDIX VI : 613 APPENDIX VII : 621 I-15
APPENDIX XVI :
681 I-16
APPENDIX IX
631
APPENDIX XII :
APPENDIX XIII :
APPENDIX XV :
APPENDIX VIII
X-A : 640
SUBJECT INDEX
APPENDIX XI :
APPENDIX X :
652
APPENDIX
: 629
673
APPENDIX XIV :
: 627
650
656
654
657
Ltd.,
TDR/FSI/UPFRONT AMOUNT IN LONG TERM LEASE IN REAL TRANSACTIONSESTATE 17.1 Tax on real estate transactions except sale of land or completed building/apartment GST applies on transfer of development rights
Service code CHAPTER 17 401
Vilas Chandanmal Gandhi, Vilas Chandanmal Gandhi, Maarq Spaces P Maarq Spaces P Ltd. In re
payable
charge in transactions after 1-4-2019 vide vide vide GST
Exemption in respect of residential apartments -
payable
Para 17.2 402
vide 17.2
Tax by
promoter
Tax by under reverse on TDR applies even if land owner is individual and not in business of land relating to activities Transfer of development rights
promoter under reverse charge
LCS City Makers P Ltd. CST Direktorna Direktsia Obzhalvane I Upravlenie na izpalnenieto Orfey Bulgaria EOOD Southern Properties CCE Gowra Ventures P. Ltd., 17.2-1 Transfer of development rights in case of re-development of slum rehabilitation vide 17.3 Transferable Development Rights i.e. transfer of FSI ‘ ’ 403 Para 17.3
is different from Transfer
TDR Development Right) Vilas Development
is subject to GST -
Right) was subject to sales tax Sumer Corporation State of Maharashtra ‘ ’ 17.4 GST on Upfront amount payable for long term lease of land Para 17.4 404
(Transferable
Development Rights -
TDR of
Chan danmal Gandhi In reTDR (Transferable
Goa Tourism Development Corporation Ltd.
Ltd.,Builders
Association of Navi Mumbai Union of India
Hazari Bagh Builders (P.)
Long lease of land is practically sale of land Lavasa Corporation Ltd. Jitendra Jagdish Tulsiani
17.4-1 Upfront amount for long term lease of industrial plots exempt
405 Para 17.4
Sub-leasing of industrial plots is taxable Gujarat Hira Bourse In re
Para 17.4 406
Ancillary services relating to service of providing lease of industrial plots is taxablePunjab Small Industries and Export Corpn. Ltd.,
Explanation.-
Conditions for the exemption as introduced w.e.f. 1-1-2020
Exemption available even if upfront amount on long term lease of industrial plots or for financial business is paid in instalments
41A and 41B are identical]. 17.5 GST on Development Rights/FSI/Upfront Amount in real estate transactions by promoter under reverse charge 17.5-1 Person liable to pay GST on transfer of Development Rights/ FSI/Upfront amount for long term lease 407 Para 17.5
detailed provisions [as provisions
See para 24.6 for under Sr Nos.
Till 13-10-2017, the exemption was as follows 17.4-2 Upfront amount for long term lease paid after 1-4-2019 for construction of residential apartments exempt, if apartment sold before completion
a ba b Para 17.6 408
17.6 Transfer of development rights/FSI after 1-4-2019 for construction of residential apartments exempt, if sold before completion
vide
B GST payable on residential apartments remain un-booked on date of completionor
A GST on transfer of development rights/FST attributable residential apartmentsor
× 409 Para 17.6
Exemption to the extent of residential apartments sold before completion
GST on TDR vide
× ÷ or
Value of supply of service of development rights or FSI to promoter
Time when liability of promoter arises or proviso
Value of portion of un-booked residential or commercial apartments
÷ proviso
Upper limit for tax on residential apartments proviso
Value if cash is received by land owner Maarq Spaces P Ltd.
Para 17.6 410
17.6-1 Issue of partial completion certificate/occupancy certificate vide 17.6-2 Illustrations in respect of GST payable by promoter under reverse chargeQuestionAnswer411 Para 17.6
apartmentsorBGSTpayable
QuestionAnswer
on residential apartments remain un-booked on date of completionor
Para 17.6 412
A GST on transfer of development rights/FSI attributable residential
÷ proviso
GST on transfer of development rights/FSI attributable commercial apart orments
i ii 413 Para 17.6
Check
÷
i GST on transfer of development rights/FSI attributable commercial apartmentsii
USD : 49
ORDER NOW Description
Estate
This book provides complete & updated coverage of GST on Real Estate Transactions & Works Contracts.
The Present Publication is the 7th Edition, amended by the Finance Act 2022 & incorporates Notifications issued till 19-07-2022. This book is authored by V.S. Datey with the following coverage: Issues pertaining to Projects, Transfer of Development Rights (TDR), Development Rights, Floor Space Index (FSI), Leasing, Renting, and Valuation Issues are extensively covered in this book [Numerical Illustrations] to clarify issues relating to GST on Real Estate Projects are provided Services to and by the Government are covered Issues in Input Tax Credit; when the exempted & taxable supplies are made
Rs. : 1450 | AUTHOR : V.S. Datey PUBLISHER : TAXMANN DATE OF PUBLICATION : August 2022 EDITION : 7th Edition ISBN NO : 9789356220102 NO. OF PAGES : 714 BINDING TYPE : PAPERBACK
GST on Works Contract & Real Transactions
