Acronyms in GST I-17 BASICS OF GST 1 BACKGROUND 1.1 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 26 1.11 27 1.12 27 2 TAXABLE EVENT IN GST 2.1 28 2.2 29 CONTENTS I-5
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 CLASSIFICATION OF GOODS AND SERVICES 3.1 50 3.2 52 3.3 55 3.4 56 3.5 57 3.6 58 4 VALUE OF TAXABLE SUPPLY OF GOODS OR SERVICES OR BOTH 4.1 60 4.2 64 4.3 64 4.4 68 4.5 71 I-6
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 INPUT TAX CREDIT (ITC) 5.1 83 5.2 86 5.3 89 5.4 101 6 INPUT TAX CREDIT WHEN EXEMPTED AS WELL AS TAXABLE SUPPLIES MADE 6.1 117 6.2 120 6.3 122 6.4 129 6.5 135 I-7
7 INPUT TAX CREDIT - OTHER ISSUES 7.1 136 7.2 138 7.3 141 7.4 145 7.5 147 8 INPUT SERVICE DISTRIBUTOR (ISD) 8.1 148 8.2 149 8.3 151 8.4 152 8.5 152 9 PLACE OF SUPPLY OF GOODS OR SERVICES 9.1 155 9.2 159 9.3 161 9.4 162 9.5 165 9.6 165 9.7 i.e. 167 9.8 167 I-8
9.9 167 9.10 167 9.11 168 9.12 169 9.13 170 9.14 170 9.15 170 9.16 170 9.17 170 9.18 171 9.19 171 9.20 172 10 TIME OF SUPPLY OF GOODS AND SERVICES 10.1 177 10.2 177 10.3 179 10.4 179 10.5 179 10.6 180 10.7 181 10.8 181 10.9 182 10.10 182 10.11 182 10.12 182 I-9
REVERSE CHARGE
11
11.1 185 11.2 187 11.3 189 11.4 190 11.5 191 11.6 192 11.7 192 11.8 194 12 PROCEDURES IN GST 12.1 202 12.2 205 12.3 208 12.4 209 12.5 209 12.6 212 12.7 212 12.8 212 12.9 216 12.10 216 12.11 218 12.12 224 12.13 225 12.14 226 12.15 226 I-10
12.16 226 12.17 226 12.18 228 12.19 229 12.20 229 12.21 230 12.22 235 12.23 237 12.24 241 12.25 243 12.26 244 12.27 245 12.28 250 12.29 252 12.30 255 12.31 262 12.32 263 12.33 264 12.34 271 12.35 278 12.36 284 12.37 288 12.38 291 12.39 294 I-11
13 E-WAY BILL FOR TRANSPORT OF GOODS 13.1 295 13.2 304 13.3 317 13.4 320 13.5 320 13.6 323 13.7 326 13.8 327 13.9 329 13.10 330 13.11 336 13.12 342 14 MISCELLANEOUS ISSUES IN GST 14.1 343 14.2 344 14.3 351 TAXABILITY OF WORKS CONTRACTS AND REAL ESTATE TRANSACTIONS 15 TRANSACTIONS RELATING TO REAL ESTATE 15.1 359 15.2 361 15.3 363 I-12
15.4 372 16 REAL ESTATE SERVICES RELATING TO RESIDENTIAL AND COMMERCIAL APARTMENTS 16.1 376 16.2 385 16.3 392 16.4 397 16.5 399 16.6 404 16.7 407 16.8 407 16.9 408 16.10 411 16.11 412 17 TDR/FSI/UPFRONT AMOUNT IN LONG TERM LEASE IN REAL ESTATE TRANSACTIONS 17.1 414 17.2 415 17.3 i.e. 416 17.4 418 17.5 421 I-13
17.6 421 17.7 427 17.8 428 17.9 431 17.10 432 17.11 432 17.12 437 18 LEASING AND RENTING OF REAL ESTATE 18.1 442 18.2 445 18.3 449 18.4 450 18.5 450 19 CONSTRUCTION AND WORKS CONTRACT SERVICES 19.1 452 19.2 452 19.3 462 19.4 467 19.5 469 19.6 471 I-14
19.7 472 19.8 478 19.9 478 20 GOVERNMENT RELATED ACTIVITIES 20.1 479 20.2 486 20.3 488 20.4 494 20.5 509 20.6 516 APPENDICES APPENDIX I : 525 APPENDIX II : 549 APPENDIX III : 560 APPENDIX IV : 598 APPENDIX V : 619 APPENDIX VI : 630 APPENDIX VII : 638 I-15
APPENDIX VIII : 644 APPENDIX IX : 646 APPENDIX X : 648 APPENDIX X-A : 657 APPENDIX XI : 667 APPENDIX XII : 669 APPENDIX XIII : 671 APPENDIX XIV : 673 APPENDIX XV : 674 APPENDIX XVI : 690 SUBJECT INDEX 699 I-16
TDR/FSI/UPFRONT AMOUNT IN LONG TERM LEASE IN REAL ESTATE TRANSACTIONS
17.1 Tax on real estate transactions except sale of land or completed building/apartment
GST applies on transfer of development rights
Vilas Chandanmal Gandhi, Vilas Chandanmal Gandhi, Maarq Spaces P Ltd.,Maarq Spaces P Ltd. In re
CHAPTER
414
17
415 Para 17.2
Service code
Exemption in respect of residential apartmentsTax payable by promoter under reverse charge
Tax payable by promoter under reverse charge in transactions after 1-4-2019
GST on TDR applies even if land owner is individual and not in business of land relating to activities
17.2 Transfer of development rights
videvidevide
vide
i.e.
LCS City Makers P Ltd. CST Direktorna Direktsia Obzhalvane I Upravlenienaizpalnenieto Or fey Balgaria EOOD Southern Properties CCE Gowra Ventures P. Ltd.,
vide
Para 17.3 416
17.2-1 Transfer of development rights in case of re-development of slum rehabilitation
17.3 Transferable Development Rights i.e. transfer of FSI
417 Para 17.3
TDR is different from Transfer of Development Rights -
TDR (Transferable Development Right) is subject to GST - Vilas Chandanmal Gandhi In re -
TDR(Transferable Development Right) was subject to sales tax Sumer Corporation State of Maharashtra
-
‘ ’
Para 17.4 418
17.4 GST on Upfront amount payable for long term lease of landHazariBagh Builders (P.) Ltd.,
Builders Association of Navi Mumbai Union of India -
Goa Tourism Development Corporation Ltd.
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
419 Para 17.4
Explanation.-
Exemption available even if upfront amount on long term lease of industrial plots or for financial business is paid in instalments -
Conditions for the exemption as introduced w.e.f. 1-1-2020
Preferential location charges is part of value of land
20
-
-
Sub-leasing of industrial plots is taxable Gujarat Hira Bourse,
Ancillary services relating to service of providing lease of industrial plots is taxable -
Punjab Small Industries and Export Corpn Ltd., 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
Para 17.4 420
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 vide
17.6 Transfer of development rights/FSI after 1-4-2019 for construction of residential apartments exempt, if sold before completion
ab-421
Para 17.6
a b GST on TDR vide Exemption to the extent of residential apartments sold before completionA GST on transfer of development rights/FST attributable residential apartments or × ÷ or Para 17.6 422
423 Para 17.6
B GST payable on residential apartments remain un-booked on date of completion or
Upper limit for tax on residential apartments proviso
Time when liability of promoter arises or
Value of supply of service of development rights or FSI to promoter
× ÷proviso
proviso
Value if cash is received by land owner
Maarq Spaces P Ltd.
Value of portion of un-booked residential or commercial apartments
17.6-2 Illustrations in respect of GST payable by promoter under reverse charge
Question -
vide
-
Para
424
17.6
Answer QuestionAnswer 425 Para 17.6
A GST on transfer of development rights/FSI attributable residential apartments
B GST payable on residential apartments remain un-booked on date of completion
÷ ( -
or
÷provisoPara 17.6 426
or
427 Para 17.7
Check
GST on transfer of development rights/FSI attributable commercial apartments or
i GST on transfer of development rights/FSI attributable commercial apartments
i ii
17.7 GST on Development Rights/FSI transferred or long term lease amount paid before 31-3-2019
now promoter
÷
(
ii
-
a‘ ’ b
GST on Works Contract & Real Estate Transactions
AUTHOR : V.S. DATEY
PUBLISHER : TAXMANN
DATE OF PUBLICATION : FEBRUARY 2023
EDITION : 8th Edition
ISBN NO : 9789356226739
NO. OF PAGES : 732
BINDING TYPE : PAPERBACK
DESCRIPTION
Rs. 1595 USD 51
This book provides complete & updated coverage of GST on Real Estate Transactions & Works Contracts.
The Present Publication is the 8th Edition and has been amended upto 1st February 2023. 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/Valuation]; when the exempted & taxable supplies are made
ORDER NOW
