Under REP Project(100% Commercial) do developer require to pay GST(RCM) for area allotted to Tenants under barter system. Though as per GST provisions recognise such transfer of development rights as a ‘barter,’ which is a taxable supply. This builder pays this levy at a later stage, it is paid at the time of first occupancy or receipt of the completion certificate. whichever is earlier. However, The builder also incurs GST during the construction phase which according to the industry averages 18%, for which no input tax credit is available. For example, the GST paid by the builder on cement or steel cannot be offset later against its own GST liability. Lastly, the GST incidence at 12% arises when the new office is transferred to the CHS members. “The developers are statutorily liable to pay this 12% levy.(RCM) But commercially, being an indirect tax, it depends on the negotiations between the parties on whether the GST burden will be passed on to the members or not. In most cases, as the members are getting new flats, they are not willing to bear it as per notification no.03/2019 dated 29/03/2019. It was stressed that in redevelopment schemes, the GST department is charging GST on the market value of the flats given to existing CHS members free of cost, which is in lieu of their existing flats. This effectively leads to double taxation as the cost of this rehabilitation component is already ingrained in the cost of flats being sold in the open market on which the developers are already collecting GST and discharging their liability. Do Developer has to discharge RCM liability at theat the time of first occupancy or receipt of the completion certificate. whichever is earlier. Need your views and court verdicts in support

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Mrs. R, being owner of the building, enters into an agreement of joint development with Mr. E, and Mrs. R will receive one flat and Rs.15,00,000 as consideration. She will also receive Rs.50,000/month towards rental compensation. Mr. E deducted TDS on all the payments made. Is rental compensation received under joint development agreement taxable? TDS deduction made by Mr. E on payments of Rs. 50,000. Is it valid deduction?

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No capital gain to be charged on profit from sale of rural agricultural land  

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Respected Sir, I have followng query: As per Finance (No.2) Act, 2024, as passed by Parliament, newly inserted Section 194T has been made effective from 01/04/2025. Whether it means it is effective from AY 2025-26 or it means requireemnt of TDS are applicable in respect of amount paid or creidted on and from 01/04/2025, i.e. from AY 2026-27? Thanking you.  

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If house property is purchase in name of my mother(100% owner) and loan for purchase consideration is borrowed by me(son) , the sole borrower,  how can i claim deduction of home loan interest u/s 24(b) of income tax act? And if stamp duty is also paid by me(son) , how can i claim deduction u/s 80C ?  

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Assessee deposited capital gain in CGAS. But while purchasing the new property utilized amount from personal saving account. Are the unutiled amount CGAS is taxable

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Sir, It assessess own commercial property trading for cloth business maintained and  assessess business part place government occupied for road extension purpose.if assessess business part place registered to  government after some amount received. Question: Assessess received amount from government capital gain tax implications for it act.

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Sir,  This issue is relating to GST Act, the query is as follows. The dealer is registered under GST Act, and initially was registered as Regular assesses, after a period of 3 to 4 months the dealer switch over to composition scheme in 17/18, the dealer was using a software named Busy software,  while programming the developer had in inadvertently had programmed as regular registered dealer and  made a bifurcation of sale consideration as  BASIC + CGST + SGST , but in fact the Dealer was into composition scheme, The dealer was filling CMP 04 every Qtr  reflecting the sale and payment of 1%  GST,  Unfortunately there was a search conducted by GST team on 23 Oct 24, The officer conducted the Mazhar and noted this issue of  GST reflection in the sale Bill and was adamant on the same and  was bent upon the issue of GST Tax being shown in the bill, even after meeting next day in his office he was determined to levy the Tax @ 18% from 17/18 onwards.It is not a Fatal Error, which is prejudicial to Revenue. This was an the only omission, and Human Error and there was NO mens rea to evade tax, the dealer  due to oversight had left this issue unattended, otherwise would have corrected at it’s preliminary stage of development / installation of software, as the dealer is into Business from past 35 years Now that the officer has taken all Books of Accounts, records and Bank statements form 17/18 till date, the dealer is awaiting for his Notice and Order, to known the action initiated by the Officer. PL know us any Precedent of Higher Forum cases to get the Relief, your kind consideration would be highly appreciable, Thanks M.M.T CA.,

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Respected Sir / Madam Request you to kindly guide on the following matter. The learned AO disallowed the deduction claimed by the appellant u/s 80IBA of the Act  on the ground that the appellant had not fulfilled the conditions stipulated under section 80IBA of maintaining separate books of accounts for all the activities undertaken by it during the year under consideration and drawn the inference that appellant is maintaining common books of accounts for the entire plot only on the basis of perusal of Financial Statements .

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