09 January 2019
Dear Experts, My client had dealing in real estate i.e., purchase land and converted it into number of residential sites and sold it to others. As per GST Act Exemption is upto 20 Lakhs. But my client crossed the said limit. Whether he take registration, If yes please guide me the GST Tax Rate for the same or it is exempted from GST Tax. Thanks in advance.
09 January 2019
Your client need to take registration if he sells residential units before obtaining completion certificate .
sale of land will not attract GST and sale of building after obtaining completion certificate or after its first occupation will not attract GST. (Schedule III of CGST Act .)
Sale of building before its first occupation or before issuance of completion certificate will be taxed under GST, and shall be treated as supply of service..
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