Common Contracts
1 similar Construction Contract contracts
ContractConstruction Contract • July 10th, 2023
When agreement for construction is entered into with a purchaser before the execution of sale deed for land in favour of the purchaser, is PPD eligible for effective rate of 5% on gross value of land and construction (i.e.; availing l/3rd deduction towards land on effective rate of 7.5% as per notification number 03/2019 dated 29.03.2019)? HELD The applicant is liable to pay GST at the rate of 7.5% in respect of the services of construction of residential apartments other than affordable residential apartments as per entry at Item No. (ia) of SI. No. 3 of Notification No. 11/2017 subject to the conditions prescribed under the entry in the villa project irrespective of whether the agreement for construction is entered into with a purchaser before the execution of sale deed for land in favour of the purchaser or after the execution of sale deed for land.(2) When agreement for construction with a purchaser is entered into after the execution of sale deed for land in favour of the purchase
