In India, GST on the existing area in a redevelopment project depends on whether consideration is involved. If you are asking, is GST applicable on development of land? So, let me inform you, the sale of land is exempt from GST, since it is an immovable property. But what if, with planned developments, there is a composite supply of land coupled with shared amenities? In that instance, the seller's charge is subject to GST.
If the builder provides a free constructed area to the existing owner without additional consideration, GST is not applicable. However, if extra consideration (such as money or additional area) is involved, GST at 18% applies to the construction cost.
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What is the GST on Existing Area in Redevelopment?
Pushpa
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2025-02-19T11:40:54+00:00 2025-02-19T11:42:49+00:00Comment
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