Taxmann's GST on Works Contract & Real Estate Transactions book by V.S. Datey

This book is definitive subject-specific commentary that simplifies the application of GST across the construction and real estate sectors. It begins with core concepts—such as taxable event, place of supply, and valuation—and progresses seamlessly to advanced issues like joint development agreements, transfer of development rights (TDR), floor space index (FSI), and leasing. Practical examples explain each topic clearly, enabling readers to grasp foundational principles and specific complexities. Its structured approach demarcates fundamental GST provisions from the specialised aspects unique to real estate. Illustrations and step-by-step explanations enhance comprehension, while appended statutory references ensure accuracy and easy access to legal texts.

This book is intended for the following audience:

• Chartered Accountants, Cost Accountants, & Tax Practitioners – For compliance, planning, and advisory related to GST in construction & real estate
• Lawyers & Corporate Legal Teams – To interpret GST provisions for ongoing and prospective legal matters in the real estate domain
• Builders, Contractors, & Real Estate Developers – Practical guidance on GST aspects of works contracts, joint development arrangements, transfer of development rights, etc.
• Government Authorities & Departmental Officers – As a reference tool for assessing GST liabilities in works contract and real estate matters
• Students & Academicians – For understanding sector-specific GST intricacies

The Present Publication is the 10^th Edition | 2025 and has been amended upto 1^st February 2025. This book is authored by V.S. Datey with the following noteworthy features:

• [Complete Coverage of GST Law] Detailed discussion on GST basics:
  • Taxable Event
  • Classification, Valuation
  • Input Tax Credit
  • Time & Place of Supply
  • Reverse Charge
  • Others
• [Focus on Real Estate & Construction] Explains the special provisions, notifications, and circulars that impact works contracts and real estate projects
• [Joint Development Agreements & Transfer of Development Rights (TDR/FSI)] Clarifies GST implications on the transfer of development rights, floor space index (FSI), lease premium, etc.
• [Practical Insights & Examples] Numerous illustrations, scenarios, and cross-references to case laws and departmental clarifications
• [Practical Emphasis] The book offers practical tips, compliance checklists, and procedural guidance, assisting readers in day-to-day GST practice
• [Step-by-step Guidance on Compliance] Procedures for registration, tax invoices, returns (GSTR-3B, GSTR-1, etc.), TDS in GST, e-way bill, and anti-profiteering
• [User-friendly Presentation] Tables, flowcharts, and step-by-step procedures are used to simplify complex GST provisions
• [Updated Appendices & Notifications] Appendices contain relevant statutory provisions, extracts of important notifications, clarifications, and forms
• [Updated Judicial & Departmental References] Includes references to the latest jurisprudence and clarifications to help address common disputes

The coverage of the book is as follows:

• Part I – Basics of GST
  • Background of GST – Structure and constitutional provisions, definition of goods & services, nature of GST rates, GSTN, IGST mechanism, etc.
  • Taxable Event in GST – Concept of 'supply,' activities/transactions treated as supply even if no consideration, composite/mixed supply, etc.
  • Classification & Valuation – HSN and SAC classification, transaction value, discounts, related-party transactions, margin scheme, etc.
  • Input Tax Credit (ITC) – Eligibility, blocked credits, proportionate ITC for exempt & taxable supplies, capital goods, distribution of input credit, etc.
  • Procedures under GST – Registration, invoicing, returns, payment of tax (electronic cash/credit ledger), e-way bills, record maintenance, etc.
  • Reverse Charge & Other Provisions – Reverse charge for goods & services, TDS obligations, anti-profiteering framework, and advanced ruling process
• Part II – Taxability of Works Contracts & Real Estate Transactions
  • Real Estate Services & Transactions – Treatment of sale of land & plots, completed vs. under-construction properties, society maintenance services
  • Construction & Works Contract Services – Definition of works contracts, distinguishing from pure construction services, applicable GST rates & exemptions
  • Joint Development Arrangements – Handling of development rights, FSI, lease premium, time and place of supply issues, reverse charge for promoters, etc.
  • Renting & Leasing of Real Estate – GST on commercial leasing, renting of immovable property, co-owner aspects, exemptions for religious places, etc.
  • Government-related Construction & Contracts – Supplies to/from Government or local authorities, TDS, notifications granting exemptions or special treatment.
• Appendices
  • Extracts of important Sections of CGST, IGST Acts, and relevant Rules
  • Text of crucial Notifications (11/2017, 12/2017, etc.) with relevant amendments
  • Illustrative calculations for ITC reversals, reverse charge liability, declarations for ongoing projects, etc
  • Clarifications and FAQs on real estate projects issued by the Department
• The structure of the book is as follows:
  • Logical Flow
    • It starts with foundational GST concepts (Part I) and then moves on to the specialised subject of works contracts and real estate (Part II)
  • Chapter-by-chapter Explanation
    • Each chapter focuses on a specific aspect (e.g., classification, valuation, ITC, TDR/FSI) for clarity and ease of reference
  • Detailed Contents & Index
    • A comprehensive table of contents and a subject index help readers quickly locate topics
  • Appendices
    • Provide direct access to relevant legal provisions, rules, and notifications for deeper reference and clarity