Acronyms in GST I-17 BASICS OF GST 1 BACKGROUND 1.1 3 1.2 4 1.3 6 1.4 10 1.5 22 1.6 22 1.7 23 1.8 23 1.9 24 1.10 27 1.11 28 1.12 28 2 TAXABLE EVENT IN GST 2.1 30 2.2 31 CONTENTS I-5
2.3 32 2.4 39 2.5 40 2.6 44 2.7 47 2.8 47 2.9 49 2.10 49 2.11 51 2.12 51 2.13 51 3 CLASSIFICATION OF GOODS AND SERVICES 3.1 53 3.2 55 3.3 58 3.4 59 3.5 60 3.6 61 4 VALUE OF TAXABLE SUPPLY OF GOODS OR SERVICES OR BOTH 4.1 63 4.2 67 4.3 67 4.4 71 4.5 74 I-6
4.6 75 4.7 75 4.8 77 4.9 80 4.10 81 4.11 81 4.12 82 4.13 84 5 INPUT TAX CREDIT (ITC) 5.1 86 5.2 89 5.3 93 5.4 107 6 INPUT TAX CREDIT WHEN EXEMPTED AS WELL AS TAXABLE SUPPLIES MADE 6.1 125 6.2 129 6.3 130 6.4 132 6.5 134 I-7
7 INPUT TAX CREDIT - OTHER ISSUES 7.1 135 7.2 137 7.3 140 7.4 143 7.5 145 8 INPUT SERVICE DISTRIBUTOR (ISD) 8.1 146 8.2 148 8.3 151 8.4 151 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 9.13 169 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
11
11.1 185 11.2 187 11.3 189 11.4 190 11.5 191 11.6 192 11.7 192 11.8 195 12 PROCEDURES IN GST 12.1 205 12.2 208 12.3 211 12.4 212 12.5 212 12.6 215 12.7 215 12.8 215 12.9 219 12.10 219 12.11 221 12.12 228 12.13 228 12.14 229 12.15 229 I-10
REVERSE CHARGE
12.16 229 12.17 229 12.18 231 12.19 232 12.20 232 12.21 233 12.22 238 12.23 241 12.24 245 12.25 246 12.26 248 12.27 248 12.28 254 12.29 255 12.30 258 12.31 266 12.32 266 12.33 268 12.34 274 12.35 282 12.36 288 12.37 292 12.38 295 12.39 298 I-11
13 E-WAY BILL FOR TRANSPORT OF GOODS 13.1 299 13.2 308 13.3 321 13.4 324 13.5 324 13.6 327 13.7 330 13.8 331 13.9 333 13.10 334 13.11 340 13.12 346 14 MISCELLANEOUS ISSUES IN GST 14.1 347 14.2 348 14.3 355 TAXABILITY OF WORKS CONTRACTS AND REAL ESTATE TRANSACTIONS 15 TRANSACTIONS RELATING TO REAL ESTATE 15.1 363 15.2 365 15.3 367 I-12
15.4 376 16 REAL ESTATE SERVICES RELATING TO RESIDENTIAL AND COMMERCIAL APARTMENTS 16.1 381 16.2 390 16.3 398 16.4 402 16.5 405 16.6 409 16.7 412 16.8 412 16.9 414 16.10 417 16.11 418 17 TDR/FSI/UPFRONT AMOUNT IN LONG TERM LEASE IN REAL ESTATE TRANSACTIONS 17.1 420 17.2 421 17.3 i.e. 422 17.4 424 17.5 427 I-13
17.6 427 17.7 433 17.8 434 17.9 437 17.10 438 17.11 439 17.12 443 18 LEASING AND RENTING OF REAL ESTATE 18.1 448 18.2 451 18.3 456 18.4 457 18.5 458 19 CONSTRUCTION AND WORKS CONTRACT SERVICES 19.1 459 19.2 459 19.3 469 19.4 474 19.5 476 19.6 479 I-14
19.7 479 19.8 486 19.9 486 20 GOVERNMENT RELATED ACTIVITIES 20.1 487 20.2 494 20.3 497 20.4 503 20.5 518 20.6 526
APPENDIX I : 535 APPENDIX II : 559 APPENDIX III : 570
IV : 611
V : 632
VI : 643 I-15
APPENDICES
APPENDIX
APPENDIX
APPENDIX
APPENDIX VII : 651 APPENDIX VIII : 657 APPENDIX IX : 659 APPENDIX X : 661 APPENDIX X-A : 670 APPENDIX XI : 680 APPENDIX XII : 682 APPENDIX XIII : 684 APPENDIX XIV : 686 APPENDIX XV : 687 APPENDIX XVI : 703 SUBJECT INDEX 711 I-16
TRANSACTIONS RELATING TO REAL ESTATE
15.1 Coverage of GST on transactions relating to real estateexplanation vide
CHAPTER 15 363
15.1-1 Coverage of Real Estate transactions under GST
or after its first occupation before it is occupied
Matters excluded from definition of supply of goods or servicesnot
15.1-2 No separate tax for supply of land or undivided share of land as part of composite supply of apartments
-
-
‘ ’
Para 15.1 364
15.2 Sale of developed plots by including development cost in sale value of plots is not taxable under GST
Bhopal Smart City Dev Corpn Ltd. In re Godrej Properties Ltd. In re
Vaishnaoi Infratech and Developers In re
Dharmic Living (P.) Ltd., In re
-
Munjaal Manishbhai Bhatt UOI
365 Para 15.2
Shantilal Real Estate Services In re
Ms Rabia Khanum, In re
Ms Rabia Khanum, In re
Shree Dipesh Anilkumar Naik, In re
Dipesh Anilkumar Naik, In re
Satjaya Infratech In re
PPD Living Spaces P Ltd. In re
Additional facilities in complex
Preferential location charges is part of value of land
Para 15.2 366
Facility of club house and other common facilities taxable Godrej
Properties Ltd. In re
Mere development of land is subject to GST
MAARQ Spaces P. Ltd. In re
15.2-1 Long lease of land is practically sale of land
Lavasa Corporation Ltd. v. Jitendra Jagdish Tulsiani
Nagpur Integrated Township P. Ltd., In re
15.3 Refrain from Act or tolerating an Act
Departmental clarification on coverage of service of ‘tolerating and act or situation’
-
367 Para 15.3
Liquidated damages for breach of contract
a b c
Para 15.3 368
AAR and CESTAT decisions in respect of liquidated damages South Eastern Coalfields Ltd. CCE
Neyveli Lignite Corporation Ltd. CCNorthern Coalfields CCGST
Steel Authority of India Ltd. Commissioner of GST & Central Excise, Salem per se
-
369 Para 15.3
Ruchi Soya Industries Ltd. CC
Rajcomp Info Services Principal Commissioner
Madhya Pradesh Poorva Kshetra Vidyut Vitaran Co. CCGST
Sembcorp Energy CC
Achampet Solar (P.) Ltd., In re
Rites Ltd. In re
Madhya Pradesh Power Transmission PC CGST
Madhya Pradesh Poorva Kshetra Vidyut Vitaran Co CCGST
Contrary decision that Liquidated damages recovered for delay in supply of goods are subject to GST
Maharashtra State Power Generation Company Ltd. In re
Maharashtra State Power Generation Company Ltd. In re
-
Para 15.3 370
GST on Works Contract & Real Estate Transactions
AUTHOR : V.S. DATEY
PUBLISHER : TAXMANN
DATE OF PUBLICATION : APRIL 2024
EDITION : 9TH EDITION
ISBN NO : 9789357784450
NO. OF PAGES : 744
BINDING TYPE : PAPERBACK
Description
This book discusses the complexities of taxability concerning works contracts and real estate transactions under the GST regime. Spread over twenty detailed chapters, the book provides an exhaustive analysis starting from:
u Transactions relating to real estate covering the GST implications on the sale of developed plots
u Services by housing societies
u Intricacies of real estate services for both residential and commercial apartments
It addresses specific scenarios for various types of real estate projects, such as:
u Reverse Charge Mechanisms
u Input Tax Credit Provision
u Valuation Methodologies
Each topic is systematically broken down in the following manner:
u Detailed Sections on Background Information
u Definitions
u GST Rates Effective from April 2019
u Special Cases, such as exemptions and concessions for services related to government projects
This book is intended for tax professionals, legal experts, and business owners in the construction and real estate sectors. It offers an understanding of managing GST compliance and maximizing fiscal efficiencies through strategic GST planning.
The Present Publication is the 9th Edition | 2024 and has been amended upto 25th March 2024. This book is authored by V.S. Datey and covers the following:
u Background
u Taxable Event in GST
u Classification of Goods and Services
u Value of Taxable Supply of Goods or Services or Both
u Input Tax Credit
ITC, when exempted, as well as taxable supplies, are made ITC – Other Issues
u Input Service Distributor
u Place of Supply of Goods or Services
u Time of Supply of Goods and Services
u Reverse Charge
u Procedures in GST
u E-Way Bill for Transport of Goods
u Miscellaneous Issues in GST
u Transactions Relating to Real Estate
u Real Estate Services Relating to Residential and Commercial Apartments
u TDR/FSI/Upfront Amount in Long-Term Lease in Real Estate Transactions
u Leasing and Renting of Real Estate
u Construction and Works Contract Services
u Government Related Activities
ORDER NOW Rs. 1695 | USD 23
