Gst on builders & developers, on sale of flats

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2018 Dear Experts,
Pls clarify :- what % GST applicable on sale of flats whether inclusive land value or exclude land,

2) can we avail the ITC of materials like cement, Steele, architect services etc.

Thanks & Regards
Mohit gupta

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 January 2018 1 12% GST applicable on flat sale inclusive of land and 18% applicable excluding land.
2 Yes you can avail ITC on steel cement and architect service.

Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2018 But sir sec 17(5)(c) & 17(5)(D) restrict the ITC in case of immovable property I.e buildings... Pls clarify the same

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Dibin Divyakumar

Dibin Divyakumar (Expert)
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04 January 2018 ITC on Immovable property is allowable only for those involved in the business on construction & sale of property, for other business persons ITC is restricted by 17(5).

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 January 2018 Yes agreed with the above reply.