AAAR: Land development under JDA constitutes ‘supply of service’, not ‘sale of land/plot’; Upholds AAR

Karnataka AAAR upholds the AAR order that the activity of development and sale of land carried on by the Appellant under the joint development agreement (JDA) is a supply of service; Deciphering the JDA, perceives that the agreement of developing the property into a residential layout was based on revenue sharing model for sharing the revenue earned through sale of land in the ratio of 75:25 between the landowner and Appellant; Thus, deduces that the transaction between ...