194IA - TDS ON BUYING PROPERTY

Maulik Shah (12 Points)

18 June 2017

would GST be liable on same..?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183541 Points)
Replied 18 June 2017

GST will be levied on purchase of under construction properties at 12%. Not on TDS to be deducted.

Maulik Shah (12 Points)
Replied 18 June 2017

you didnt get my question sir... what if I m buying ready property of RS.1.00 cr

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183541 Points)
Replied 18 June 2017

You didn't get my answer sir,

When the property has 'completion certificate' obtained; it is not under-construction property and hence exempt from GST levy !!!

Ompal Singh (Student CA Final) (53 Points)
Replied 18 June 2017

The transfer of completed immovable property by sale transaction will be outside the jurisdiction of GST and will be liable for stamp duty.

However certain provision are still under drafting process in relation to Real estate

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