GST
This query is : Resolved
24 October 2019
Dear Sir / madam,
there is a partnership firm having four partners , nature of business is land developers,
they constructed a apartments having 25 flats, they sell 21 flats and now 4 flats is not saled , now they can transfer 4 flats each one individually and want to close the firm,
please confirm GST applicable , if they individually transfer the each flat to each of them ...
please confirm GST applicable for sale transaction or not
there is a partnership firm having four partners , nature of business is land developers,
they constructed a apartments having 25 flats, they sell 21 flats and now 4 flats is not saled , now they can transfer 4 flats each one individually and want to close the firm,
please confirm GST applicable , if they individually transfer the each flat to each of them ...
please confirm GST applicable for sale transaction or not
24 October 2019
No GST If OC received for apartment, if not they have to pay the GST.
24 October 2019
the partnership firm are not opted composition , they are continuing on the old format only i.e. regular scheme only
24 October 2019
and also confirm the accounting treatment
24 October 2019
Completion certification obtained for Apartment ? If Yes, No GST , if Not GST is applicable
Accounting
Partner Capital / Drawing A/c
to Stock
Accounting
Partner Capital / Drawing A/c
to Stock
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