GST on Development agreement
Query (Issue) Started By: – Ritesh Mehta Dated:- 10-1-2019 Last Reply Date:- 14-1-2019 Goods and Services Tax – GST
Got 2 Replies
GST
An individual enters into development agreement with a builder for a consideration of X amount.
\nThe Consideration is completely in cash and not kind.
\nNot. No.4\/2018 Dtd.25\/01\/18 mandates GST on development rights to be paid by registered person on consideration recd. from builder.
\nMy take on this is that GST shall not be applicable as it is not a Supply Per Se.
\nIf read with Sec. 7, which defines supply to be in the course or furtherance of business.
\nIt is not a business for that individual to enter into agreement with the builder. It was his one of the land on wh<\/p>\n
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