Goods and Services Tax – C. No. IV/16/122017-CCO(TVM) – Dated:- 19-9-2017 – Government of India Ministry of Finance Department of Revenue Office of the Chief Commissioner Central Tax, Central Excise & Customs Thiruvananthapuram Zone Central Revenue Building I.S. Press Road, Kochi – 682018 C. No. IV/16/122017-CCO(TVM) Ph: 0484-2394100/0404 Fax : 0484-2397614 E-mail : cccochin@nic.in Dated 19.09.2017 Sub : Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg. Please refer to your letter dated 29.08.2017 wherein certain clarifications were sought on the Construction Services provided in the Real Estate Sector under the GST taxation regime. The issues raised therein were discussed by the Zonal GST
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ction, on account of Transfer of Land or Undivided Share of land, if the transaction value includes the value of the land transferred as per and as delineated in para 2 of the said Notification. This one third deemed deduction on account of transfer of Land or Undivided Share of land is irrespective of the actual value of the land transferred. However, the said deemed deduction is not available when there is no transfer of land or undivided share of land. 3. Real Estate projects based on Joint Venture Agreements entered into by a Developer and a Land Owner, if otherwise legal and proper as per the governing laws, are also eligible for the deemed deduction as specified in para 2 supra. However the said deemed deduction is not available for u
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