Composition Tax Calculation under JDA joint development agreement Under Karnataka VAT
I am working in construction company in Karnataka as an Accountant. we have opted for payment of tax under composition scheme.
We calculate COT monthly considering Contract receipts after deducting the land consideration.
I have a Query for
- Whether under JDA COT calculation excludes Land consideration i.e UDS of land sold to Purchaser?
- Is there Any notification for such exclusion please specify?
- Any Case law regarding JDA for exclusion of land consideration