GST for cinstruction
This query is : Resolved
08 July 2024
Previously, when we buy new flat, the uds of land alone is registered.
Stamp+fee @9% of land cost alone was paid.
A separate agreement for construction is executed.
GST @18% of building cost was paid.
Now, from Dec 1, 2023 in Tamilnadu.
both uds of land and building was sold/ registered in a single deed.
Stamp+fee @9% of cost [land + bulding] is paid.
Now, this transaction is considered as sale of house property.
I feel, we need not to pay GST in this transaction.
Am I right?
Stamp+fee @9% of land cost alone was paid.
A separate agreement for construction is executed.
GST @18% of building cost was paid.
Now, from Dec 1, 2023 in Tamilnadu.
both uds of land and building was sold/ registered in a single deed.
Stamp+fee @9% of cost [land + bulding] is paid.
Now, this transaction is considered as sale of house property.
I feel, we need not to pay GST in this transaction.
Am I right?
08 July 2024
Yes, you are correct. No GST on any completely constructed property.
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26 August 2024
Good luck.
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