Immovable property

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Vaibhav Asopa (Querist)
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25 February 2019 As GST is on supply of goods & services, the definition of goods does not include immovable property, so why is GST applicable on under construction properties?

CA ANUBHAV

CA ANUBHAV (Expert)
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25 February 2019 yes you are right that GST is applicable on supply of goods and services and goods includes only movable properties.. But schedule II of the act specifies activities to be treated as supply of goods or services and point no. 5(b) of such schedule reads as under:

construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier.