Half day seminar on Joint Development Agreement | 23-02-2021

On 23/2/2021 from 9.45 am to 1.15 pm BAI Southern Centre organised a half day seminar on “JOINT DEVELOPMENT AGREEMENT” on GST Angle and Legal aspects at Padma Bhushan Dr.A.Ramakrishna Auditorium, BAI-SC premises, Plot No.A1, 1st Main Road, Industrial Estate, Opp. AIEMA, Ambattur, Chennai-600058 inviting CA R.Subramanian, M/s Subramanian & Associates to deliver his speech on GST angle and Advocate P.E.R. Nambiar and Advocate P.E.D. Nambiar on legal aspects in JDA. Around 130 members were present.

The Seminar started at 9.45 am with an introduction of dignitaries by Mr. L.Shantha Kumar, Chairman. He stated that the need of the hour is to clear all the doubts in our mind and informed the participants to utilise the opportunity as the speakers are eminent and expertise in the subject. He also expressed his happiness over the participation of more than 130 members.

Mr. S.D.Kannan, Chairman, Taxation Committee introduced CA R.Subramanian a law Graduate practicing Chartered Accountant having experience over 25 years. His area of specialisation includes Income Tax and GST. He has delivered presentations in over 700 orientation seminars on GST and he also trained Government and Private Sector employees on GST. He also trains GST officials of State and Central Government. He informed the participants to raise any doubts in this session which will be clarified by the Guest speaker.

Bhishma Mr.R.Radhakrishnan, Past National President and Trustee, Builders’ Association of India in his inaugural address expressed his happiness over the participation of members large in number and informed that for the first time after Covid-19 pandemic he is seeing very useful and purposeful seminar organised in our own premises. Though, we have organised such seminars in the past, the subject was rightly chosen particularly we are going to complete 4 years of introduction of GST which is the most confusing law in the entire world. He also added that still there is no clarity from the Government or tax payers or even from the auditors such seminar will be useful to all.

Mr. Mu. Moahan, National President in his Chief Guest address, thanked the Chairman for arranging this seminar which is required due to frequent issue of amendments/clarifications by the government.

CA R.Subramanian explained the following through power point presentation

• Works Contract
• Supply of Services
• Apartments u/s (2) of Real Estate.
• Affordable Residential Apartment purview
• Residential Real Estate Project (RREP)
• Real Estate Project (REP)
• Transfer of Development Right (TDR)
• Reverse Charge mechanism (RCM)
• Promoter
• Carpet area, FSI
• Developer
• Exemption under GST
• Joint Development by land owner and Promoters.
• Land owners transfrring Developmental rights to promoter. Etc.

Mr. P.E.R.Nambiar informed the difference between the JDA & GST stating that GST is the law framed by the Government and JDA is a law where we are framing the Rules of our own creating the terms and conditions. When we enters in to the JDA the Rules we frame is our Constitution which is a mutual understand between land owner and Builder. When we draw a JDA we should ensure that it is a legally enforced document. JDA is a bining between two partners i.e. land owner who gives his land trusting the Builder and Builder investing money to build. He also informed that if he speaks about JDA in depth it will not be more useful to the participants and he informed them that many are having lot of questions and clarifications in their mind, as such he likes to have a debate and informed participatns to raise their doubts.

The seminar was very informative and provided the participants enormous knowledge on the subject. The Centre Chairman Mr. L.Shantha Kumar honoured the National President, Past National President with shawl and speakers with Gift & mementoes. The successful programme was ended with Vote of Thanks by our Centre Hon. Secretary Shri A.N. Balaji followed by lunch.