Purchase and sale of land
This query is : Resolved
09 August 2024
During FY 2023-24, one of my clients had purchased various plots of land (non agriculture) and sold the same within 2 years. These land transactions were executed by him in addition to his regular trading business registered under GST. Whether land transactions turnover will be included in his business turnover for audit purposes ? Whether land transactions attract GST ? My client had not shown the land transactions in GST. Whether land transactions are GST exempted ?
09 August 2024
Yes, there is no GST over land transaction.
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