Galaxy Homes Private Limited ., In re
Date: June 1, 2022
Subject Matter
Value of undivided share of land is deemed to be one-third of the total amount charged for the supply irrespective of the actual value
Summary
The taxable value in respect of the construction service is the total amount charged for the supply less the value of land or undivided share of land and the value of land or undivided share of land shall be deemed to be one-third of the total amount…
1. M/s Galaxy Homes Private Limited (hereinafter referred to as the applicant) is engaged in the business of construction of residential apartments. They are not doing any joint venture projects but are purchasing the land in their own name and obtaining building permit in their name for constructing of apartment complex. 2. At the outset, it is clarified that the provisions of the Central Goods a…