Revenue Sharing Under Gst
Much of the data needed for determining the recommended gst revenue sharing relativities for 2020 21 are not yet available.
Revenue sharing under gst. Under the gst regime notification no. No service tax was levied in revenue sharing agreement since no constructed area was provided to owner no t2. 04 2018 dated 24 01 2018 recognised the transfer of development rights by the land owner to the developer as a separate taxable service. Revenue from its own sources and operated at the average level of efficiency.
The gst distribution is based on the same methods applied in the 2018 update but using updated data as required by the terms of reference. Board s circular and different case laws are given below for arriving at correct decision. Data for 2017 18 are incorporated for the first time while under the three year averaging process 2014 15 data drop out. In service tax regime it was classified under the category of bas and as per para no 11 of board s circular dated 13 12 11 appended below leviability of service tax on revenue sharing was determined on the nature of transaction.