Common Contracts

Contract

October 19th, 2022

• Filed
  October 19th, 2022

applicant submits that they enter into two agreements with the customers who want to have an apartment in their project. Firstly, an agreement for sale of undivided share of the land is executed between the company and the customer in which a particular number of undivided shares are agreed to be sold to the customer based on the square feet of the apartment proposed to be purchased by the customer. another agreement for constructing the apartment is also executed between the company and the customer entrusting the work of constructing the apartment to the company. The value of the undivided share of the land is shown in the agreement for sale. (1) Applicability of a notification issued under the provisions of the Act. HELD The applicant has exercised the option of paying tax at the rate as specified in Item (if) of SI. No. 3 of Notification No. 11/2017 Central Tax (Rate) liable to pay GST at the rate of 18% in respect of the services of construction of residential apartments supplied