Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg.
C. No. IV/16/122017-CCO(TVM) Dated:- 19-9-2017 Trade Notice
GST
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 Re
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ier”. The value of supply of services falling under the said Sl. No. are eligible for one third deemed deduction, 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
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