We sincerely appreciate the overwhelming response we received for our inaugural industry-based webinar. We are delighted to inform you that our Advanced Course offers comprehensive coverage of over 30 service sectors, providing in-depth analysis and interlinking of GST Laws with more than 20 other Laws. To enhance your expertise in GST, we encourage you to take advantage of our Advanced Course. Access the course at the following link: gstbymm.com/courses/advanced-gst-course Thank you to all who participated in the webinar, and we look forward to supporting you in your journey towards becoming a GST expert. PS: For all questions/queries/updates, join us on WhatsApp: invite.gstbymm.com/professionals UPDATE: GUJARAT HC in the case of MUNJAAL MANISHBHAI BHATT V. UNION OF INDIA has held that "the impugned Paragraph 2 of the Notification No. 11/2017-Central Tax (Rate) dated 28.6.2017 and identical notification under the Gujarat Goods and Services Tax Act, 2017, which provides for a mandatory fixed rate of deduction of 1/3rd of total consideration towards the value of land is ultra-vires the provisions as well as the scheme of the GST Acts. The application of such a mandatory uniform rate of deduction is discriminatory, arbitrary, and violative of Article 14 of the Constitution of India."
I was just searching on Google to understand the GST on Real Estate there was a lot of confusion but suddenly I got a video of yours it is unbelievable not to find such type of video on real estate. When a small child goes into the nursery that time how the teacher guides as a child in the same type you have given us knowledge Hats off
Can't believe that such a complicated topic has been explained in such a crisp and clear manner. The example you have designed is just super se bhi uper
Thanks sir for such a informative & valuable knowledge video. AajTak kabhi itna intrest lekar koi 2hrs ka lecture Maine consume nahi kiya tha. After listening good explanation I did it today! 😅
Thank you very much sir for such an excellent presentation with Case study covering all aspects of T1,T2,T3 and T4 and explaining very neatly supply, taxable person, exemption, value of supply, Time of supply, ITC availability etc under each transaction. Congratulations sir. I have a small doubt. Under T1 exemption has been computed as 600 lakhs. Where do we use this to deduct tax liability or turnover deduction. Thanking you sir
awsome sir, exemption of Rs 600 lack calculated but where it is deducted or benifit of this exemption where taken i could not under stand, rest i got very well. Sir you have made it very easy.
sir, I have seen so many videos for understanding real estate provision under GST I did not understand but in your explanation, all the doubts will clarify pls do such videos thank you
Excellent deliberation, i am a practicing Chartered Accountant it was really good. you have a long way to go, professionals can easily understand the complex subject of JDA by watching this lecture. Thanks a lot sir. One thing i would request you is to kindly also post a video of the income tax aspects of JDA if possible. Thanks again & All the best!!
Sir really good presentation and appreciate the effort taken. But there are few points to note: 1) You should have taken 2/3 for value of supply of TDR as 1/3 is land. So in your example for GST payable for unbooked residential apartments should be lower of : a) 1200 lakhs*60%*2/3*10/60*18%=14.4 lakhs or b) affordable (5*45*2/3*1.5%)=2.25 lakhs + Other(5*55*2/3*7.5%)= 13.75 lakhs =2.25+13.75=16 lakhs So lower will be 14.4 lakhs . 2) Since this project is REP commercial apts. rate is 12% after deduction of value of land of 1/3rd. So ITC will be available to builder only on TDR on commercial Apts paid under RCM . But here also ITC will be of no use as he cannot use it against GST of 5% and 1% payable against residential apartments but he can use against 12% collected from customers on commercial apts. sale. ITC WILL NOT be available to builder for unbooked residential apartments paid under RCM by Builder. 3) If project was RREP then comercial apts rate would be 5% on sale to customers. Hence ITC on RCM(as discussed in point 2) paid for commercial apts. would not have been able to be utilised against any output tax payable and hence would not be able to set off against. Alos refund is not possible of this ITC.
.Excellent video explaining the finer point . However some doubts remain in my mind. When land is not sold to builder how can it be said that cost of flat includes cost of land or undivided cost of land.Isn't it share of Consideration for TDR? .In that way flat owner can never become owner of undivided share on land. Which rate is to be entered in returns effective or notified.? . Hope u will answer.
The whole explanation was very much helpful, I only have one question as to were under the notification is it written about TOS for TDR transfer for Money + commercial seperately.
Sir, what you mentioned about the monetary consideration in the commercial case is understood. However, regarding the value of TDR in the commercial part, it can also be determined on the initial stage, allowing for payment and the ability to claim Input Tax Credit (ITC). If this process is delayed until the very end, the set-off for its ITC may not be possible. Kindly give your observation
Dear Sir, Really very simple and deep knowledge & Cover All aspect for Exam purpose also Practical life...... I am CA... Keep it sir, Also upload new video on others topic such as export of goods & service with all aspect for practical purpose
Always a treat to watch you ....your all videos are so helpful not only for the students but also for the practising professionals like us.... Thanks again for sharing valuable knowledge.
Sir under construction flat super buildup area 570 sq carpet Area 456 de raha h( flat price 30 lakh )gst her payment me 5% builder le raha use 1% lena chahiye na affordable property hua na per plz reply mujhe samaj me nahi aaraha ha Pura flat bangayega to fir GST lagega kya
Sir, I have a query Whether GST on transfer of development rights by landowner to Developer for converting a piece of land into developed plots (only not flat or building) is applicable? if yes please make a detailed video alongwith full clarifications and case laws. Thanks you 🙏🙏
Very much informative and helpful video, frankly speaking I couldn't get so much clarity after attending the ICAI's webinar what I got here, Thank you Mishraji for your efforts. I have few queries regarding the subject, kindly enlighten the same: 1. If the landowner does not want to sell the Units (which he would get as his share as per the JDA) before completion, i.e., he is not into the same line of business but due to some circumstances he has to sell the under constructed units to some outsider. In that case, whether he will be covered under T-4 & has to obtain GSTIN? 2. In the same situation as mentioned above, if he sells his share to co-owner instead of outsider, whether he will be covered under T-4 & has to obtain GSTIN? 3. At the time of filing GST Returns of a Builder, whether Effective GST % would be reported or the Notified %? One recommendation - if you also make a video on Income Tax & TDS applicability on Real Estate / JDA transactions, that will be great. Thanks once again!
1. The definition of "business" under GST is very wide and controversial. Even if he/she has to sell due to "some circumstances", it will be considered as a business and will get covered under T4. As definitely the turnover will exceed 20 lakhs easily, they have to take GSTIN. 2. Yes, it doesn't matter who is the recipient. 3. Notified Rate.
Excellent job sir but I have a question for you 1% & 5% is applicable no ITC utilised if the builder purchase material 80%/20% registered dealer hum kaise purchase calculate karenge
Your classes are very Informative..can u upload a video regarding GST of RealEstate Developer supply of complete Materials If he is give only labour contract..How gst works
Thank you for very informative video sir.. my question is that i have purchased a house of 800 sq foot on land. But builder has first transferred the land on my name from his brothers name with sale deed. And then he has done a construction contract with me for 37.3 Lacs. Its non metro city. What will be the gst and what proof and documents the builder will have give me against the gst he will charge to me.
Sir, what if the builder doesn't sell the commercial flats? He leases it out further after completion will he have to pay GST on RCM ? and ITC will be blocked under 17(5) for both landowner and the developer?
If residential & commercial project together ( if commercial apt area more than 15 % ) how much gst will collect from buyer on commerial apt under construction ?? Wheather itc will available to builder??
Sir mene bhopal development authority se 135 square meter size ka residential plot liya hai. Wo 12 %GST charge kar rahe hai.. kya ye sahi hai. Baad mai kuch paise refund ho payenge ya nahi. Pls reply
Thank you for your keen explanation sir. Does the landowner is mandated to get registered in case of T4 if the flat is sold under construction, even in the case of T1 it is paid under RCM? (regarding Residential aptmts). It means there is no exemption even for landowner, am I correct sir.
If land owner further sold the residential apartments how can he claim ITC on it ? ITC is restricted in respect of sale of residential apartments whether sold by land owner or Builder. As per my opinion ITC shall be available to Land owner only in respect of commerical apartments i.e. 60 lakhs If you hold your opinion that Total ITC will be available, is there any clarification issued by CBIC in this regard ?
We sincerely appreciate the overwhelming response we received for our inaugural industry-based webinar. We are delighted to inform you that our Advanced Course offers comprehensive coverage of over 30 service sectors, providing in-depth analysis and interlinking of GST Laws with more than 20 other Laws. To enhance your expertise in GST, we encourage you to take advantage of our Advanced Course. Access the course at the following link: gstbymm.com/courses/advanced-gst-course
Thank you to all who participated in the webinar, and we look forward to supporting you in your journey towards becoming a GST expert.
PS: For all questions/queries/updates, join us on WhatsApp: invite.gstbymm.com/professionals
UPDATE: GUJARAT HC in the case of MUNJAAL MANISHBHAI BHATT V. UNION OF INDIA has held that "the impugned Paragraph 2 of the Notification No. 11/2017-Central Tax (Rate) dated 28.6.2017 and identical notification under the Gujarat Goods and Services Tax Act, 2017, which provides for a mandatory fixed rate of deduction of 1/3rd of total consideration towards the value of land is ultra-vires the provisions as well as the scheme of the GST Acts. The application of such a mandatory uniform rate of deduction is discriminatory, arbitrary, and violative of Article 14 of the Constitution of India."
Sir, can I make my final year MBA project on "impact of GST on real estate sector"?
@@rashibisaria1025 Taxation is not a preferable topic for MBA. I suggest you go with a topic of your subject of MBA. Best of Luck.
Thank you sir.
Its humble request "BETA BETA" karna band kijiye
Hope you will get some professional views as well.
Sir i am practicing Chartered accountant and i must say this video really helped me ... thank you
I was just searching on Google to understand the GST on Real Estate there was a lot of confusion but suddenly I got a video of yours it is unbelievable not to find such type of video on real estate. When a small child goes into the nursery that time how the teacher guides as a child in the same type you have given us knowledge Hats off
Can't believe that such a complicated topic has been explained in such a crisp and clear manner. The example you have designed is just super se bhi uper
Aaj tk pure you tube pr is se exellent class nahi mill...may god bless u...
A Gem of a lecture.
Can't believe a lecture of such a high level can exist.Such a detailed analysis.
Sab record tod diya aapne sir aaj tak ase simply and classify smoothly lectures aaj tak mene nhi dekha sir thanks a lot of sir ji
Pure UA-cam par esa lecture nahi hai sir...You are the Best. Thank You so much.
Thanks sir for such a informative & valuable knowledge video.
AajTak kabhi itna intrest lekar koi 2hrs ka lecture Maine consume nahi kiya tha.
After listening good explanation I did it today! 😅
Never imagined that I will understand the concept of jda,tdr thanks u sir ❤
Seen webinars, tried reading articles on JDA still there wasn't complete clarity. Gotta appreciate your content. It's super easy to understand.
Most comprehensive video ever made on this complex subject. Thank you very much.
Sir,
This was the perfect one. I have never seen so detailed and highly analytical lecture.
sir thank u very much for such a fabulous work. made our life easier.
Thank you very much sir for such an excellent presentation with Case study covering all aspects of T1,T2,T3 and T4 and explaining very neatly supply, taxable person, exemption, value of supply, Time of supply, ITC availability etc under each transaction. Congratulations sir. I have a small doubt. Under T1 exemption has been computed as 600 lakhs. Where do we use this to deduct tax liability or turnover deduction. Thanking you sir
awsome sir, exemption of Rs 600 lack calculated but where it is deducted or benifit of this exemption where taken i could not under stand, rest i got very well. Sir you have made it very easy.
Sir you have really understood the subject very clearly. Thanks once again
sir, I have seen so many videos for understanding real estate provision under GST I did not understand but in your explanation, all the doubts will clarify pls do such videos thank you
One stop solution... Great example sir...
Really excellent class all concept were clear after joining the class👍👍
Excellent deliberation, i am a practicing Chartered Accountant it was really good. you have a long way to go, professionals can easily understand the complex subject of JDA by watching this lecture. Thanks a lot sir. One thing i would request you is to kindly also post a video of the income tax aspects of JDA if possible. Thanks again & All the best!!
Thanks a lot sir. I will try my level best to share as much as I can. Need your blessings. 🙏🙏
Sir, gst law ke OR INPUT TAX CREDIT KE DETAILS DISSOLVED KORE
KON KON ITC MILEGA AND KON KON ITC NAHI MILEGA .
Super sir.I have fully KNOWLEDGE about after the see the video
Sir, You have covered all things at one place.
Thank you very much
Sir really good presentation and appreciate the effort taken. But there are few points to note:
1) You should have taken 2/3 for value of supply of TDR as 1/3 is land. So in your example for GST payable for unbooked residential apartments should be lower of :
a) 1200 lakhs*60%*2/3*10/60*18%=14.4 lakhs or
b) affordable (5*45*2/3*1.5%)=2.25 lakhs + Other(5*55*2/3*7.5%)= 13.75 lakhs =2.25+13.75=16 lakhs
So lower will be 14.4 lakhs .
2) Since this project is REP commercial apts. rate is 12% after deduction of value of land of 1/3rd. So ITC will be available to builder only on TDR on commercial Apts paid under RCM . But here also ITC will be of no use as he cannot use it against GST of 5% and 1% payable against residential apartments but he can use against 12% collected from customers on commercial apts. sale. ITC WILL NOT be available to builder for unbooked residential apartments paid under RCM by Builder.
3) If project was RREP then comercial apts rate would be 5% on sale to customers. Hence ITC on RCM(as discussed in point 2) paid for commercial apts. would not have been able to be utilised against any output tax payable and hence would not be able to set off against. Alos refund is not possible of this ITC.
Sir please reply
Very good explanation thank you sir
.Excellent video explaining the finer point . However some doubts remain in my mind.
When land is not sold to builder how can it be said that cost of flat includes cost of land or undivided cost of land.Isn't it share of Consideration for TDR?
.In that way flat owner can never become owner of undivided share on land.
Which rate is to be entered in returns effective or notified.?
. Hope u will answer.
Great sir. You covered all concept in single lecture
The whole explanation was very much helpful, I only have one question as to were under the notification is it written about TOS for TDR transfer for Money + commercial seperately.
Notification No. 06/2019-Central Tax (Rate)
Very well explained. Thank you sir
Sir, what you mentioned about the monetary consideration in the commercial case is understood. However, regarding the value of TDR in the commercial part, it can also be determined on the initial stage, allowing for payment and the ability to claim Input Tax Credit (ITC). If this process is delayed until the very end, the set-off for its ITC may not be possible. Kindly give your observation
Nicely explained sir ...in one shot crystal clear
Thank you very much
Excellent you have given spoonfeeding. You may also explain on SERVICE TAX.Hatsoff.
Very nicely explained sir.
Please do a new video with more examples. ❤
Isse better lecture mil gaya to batana.....❤❤❤❤❤❤ that was so helpful..can't express in wordd
Complex topic explained in very easy way....
Very nicely and explicitly explained sir. Thank you
Hello Sir
I am CA Ajay
Your delivery towards Topic was very Goods
Thank you sir, your videos are very helpful
Wonderful explanation of the topic 👏👏👏👏 thank you so much
Mind blowing class sir... priceless class. Highly Thankful to you.
Dear Sir, Really very simple and deep knowledge & Cover All aspect for Exam purpose also Practical life...... I am CA... Keep it sir, Also upload new video on others topic such as export of goods & service with all aspect for practical purpose
Thank You!! Going to upload many practical industries based lectures. Keep Sharing.
Always a treat to watch you ....your all videos are so helpful not only for the students but also for the practising professionals like us....
Thanks again for sharing valuable knowledge.
Sir under construction flat super buildup area 570 sq carpet Area 456 de raha h( flat price 30 lakh )gst her payment me 5% builder le raha use 1% lena chahiye na affordable property hua na per plz reply mujhe samaj me nahi aaraha ha Pura flat bangayega to fir GST lagega kya
A lot of thanks to you for preparing such kind of useful video 🙏
Excellent video sir
@mmforyou
A minor query. In particular to RREP projects (commercial
Sir, I have a query Whether GST on transfer of development rights by landowner to Developer for converting a piece of land into developed plots (only not flat or building) is applicable? if yes please make a detailed video alongwith full clarifications and case laws. Thanks you 🙏🙏
Amazing video. Thanks
Thank you for such a wonderful deliberation....
superbly explained in a simple and lucid manner.
Very much informative and helpful video, frankly speaking I couldn't get so much clarity after attending the ICAI's webinar what I got here, Thank you Mishraji for your efforts.
I have few queries regarding the subject, kindly enlighten the same:
1. If the landowner does not want to sell the Units (which he would get as his share as per the JDA) before completion, i.e., he is not into the same line of business but due to some circumstances he has to sell the under constructed units to some outsider. In that case, whether he will be covered under T-4 & has to obtain GSTIN?
2. In the same situation as mentioned above, if he sells his share to co-owner instead of outsider, whether he will be covered under T-4 & has to obtain GSTIN?
3. At the time of filing GST Returns of a Builder, whether Effective GST % would be reported or the Notified %?
One recommendation - if you also make a video on Income Tax & TDS applicability on Real Estate / JDA transactions, that will be great.
Thanks once again!
1. The definition of "business" under GST is very wide and controversial. Even if he/she has to sell due to "some circumstances", it will be considered as a business and will get covered under T4. As definitely the turnover will exceed 20 lakhs easily, they have to take GSTIN.
2. Yes, it doesn't matter who is the recipient.
3. Notified Rate.
@@mmforyou Thank you so much
Thanks for such a awesome explanation, you really got great skills of teaching, thanks once again
Mind blowing....sir..... highly thankful to you...
very nice detailed explanation
.. thanks for your kind efforts . God bless
excellent Mishra ji
Thanks for Very informative vedio sir nice
Excellent, wonderful way of explanation, ❤️
This is must watch.. Very nice lecture thank you
In true sense true webinar on real estate...
Brilliant Coverage
MAZA AAGYA SIR!
Wonderful lecture sir.
Excellent job sir but I have a question for you 1% & 5% is applicable no ITC utilised if the builder purchase material 80%/20% registered dealer hum kaise purchase calculate karenge
ua-cam.com/video/skfEiNzXI-o/v-deo.html
no words for your way of explanation sir
Sir, T1 transaction mein jo commercial part tha usme apne 18% tax calculate kiye lekin usme 12% lagna chahiye na. 1/3rd to exempt hojana chahiye tha
Excellant teacher
Awesome lecture…Superb…Can you share document /slides
Sir Please Class GST on Gems and Diamond. Jaise aapne GST on Real Estate Btaya hai waise hi thoda Gems and Diamond pr bhi
sure but will take time...
Your classes are very Informative..can u upload a video regarding GST of RealEstate Developer supply of complete Materials If he is give only labour contract..How gst works
Check our Works Contract Lecture.
Superb
No one can teach better than you at least this topic
Hats off to you
then I think you have to watch the other lectures as well. 😂😂
Sure
Kindly check notification no 6/2019
Excellent explanation
Great sir 👍👍
very nice explanation sir
Nice video thanks sir
Nice information sir
Excellent explanation 👌 👏 sir,
Such a detail explanation.. HATS OFF
Thank you for very informative video sir.. my question is that i have purchased a house of 800 sq foot on land. But builder has first transferred the land on my name from his brothers name with sale deed. And then he has done a construction contract with me for 37.3 Lacs. Its non metro city. What will be the gst and what proof and documents the builder will have give me against the gst he will charge to me.
Sir...nice video... Sir builder uncle ki jo unsold commercial shop rahegayi aur woh complition ke bad sold karta hai to uspe bhi gst lagega...?
Sir, what if the builder doesn't sell the commercial flats? He leases it out further after completion will he have to pay GST on RCM ? and ITC will be blocked under 17(5) for both landowner and the developer?
Good class and explanation.
Sir, What will be the time of supply for T1 in a commercial project for a JDA without monetary consideration
Sir, can you please share if a land is given to a Developer on sharing,what & how shall the GST be applicable.
Ese to kisi ne nahi padha rakkha sir. tussi great ho...
DOUBT👇👇
Sir aapne Transaction 2 main 100 lakhs pe gst kyu nahi lagaya??
Excellent 👌
Sir really appreciate your efforts
This video is so satisfying you covered each and every aspect which made my concepts more clear
Thank you so much
Thanks, Vinita. If even so, you have any doubt feel free to ask or join our WhatsApp Group: bit.ly/gstbymm
Amazing experience to watch this video..👏👏👏
sir not found the slide.sir plz provide the slide.sir this is fantastic explanation.
Check now, it's available.
If residential & commercial project together ( if commercial apt area more than 15 % ) how much gst will collect from buyer on commerial apt under construction ?? Wheather itc will available to builder??
Thanks a lot sir🙏🙏
Thank you. Very informative as regards jda on gst. This is usefull even for members.
Thanks sir ji
Very nicely explained.. Thank you
Sir mene bhopal development authority se 135 square meter size ka residential plot liya hai. Wo 12 %GST charge kar rahe hai.. kya ye sahi hai. Baad mai kuch paise refund ho payenge ya nahi. Pls reply
Superb lecture.
Sir, what will be the time of supply to pay tax on TDR for completely commercial project?
You can avail our advisory services.
Thank you Sir, Great explanation, pura concept clear ho gaya 😊
Thank you for your keen explanation sir.
Does the landowner is mandated to get registered in case of T4 if the flat is sold under construction, even in the case of T1 it is paid under RCM? (regarding Residential aptmts). It means there is no exemption even for landowner, am I correct sir.
In case of T4, where landowner is selling apartements, the answer is YES.
Thank you so much sir
An amount of ITC is wrongly utilized for Flat sale (tax liability @5%) amount in GSTR 3B how to rectify the same in GST Portal
If land owner further sold the residential apartments how can he claim ITC on it ? ITC is restricted in respect of sale of residential apartments whether sold by land owner or Builder.
As per my opinion ITC shall be available to Land owner only in respect of commerical apartments i.e. 60 lakhs
If you hold your opinion that Total ITC will be available, is there any clarification issued by CBIC in this regard ?
One Stap Solution Thank Sir
शानदार