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construction of apartments

11 June 2017

can any one clarify the GST on completed projects and its stock. and tax payable .in service tax finished apartment completed one does not effect service tax.

But the status of the same finished project? in GST. CAN ANNY ONE GIVE SOLUTION.

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9 Replies

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 11 June 2017

plz elaborate ur query properly , have u paid stax without rcept of payment or not?

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Govind JK Kolappan (General Manager Finance) (64 Points)
Replied 11 June 2017

if the buiding is completed and then buiding development authority has certified, and if you are selling after such completion then NO GST

only Stamp duty

but please tell me clearly what is your query

Govind

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 11 June 2017

but govind in your case u must not receive any payment before completion of flat

CA NEHA RAMPURIA (Taxation Consultant) (1823 Points)
Replied 11 June 2017

for completed projects after certificate of completion . no gst leviable.

Govind JK Kolappan (General Manager Finance) (64 Points)
Replied 11 June 2017

yes Madam i agree that is my view but as i understand from Preeti mam that one should not have received any payment before the completion

Not sure

Govind

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Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 11 June 2017

yes govind one shud not receive for availment of exemption. it shud be purely sale of flat

Sasikumar Subramaniam (3 Points)
Replied 11 June 2017

we didnt receive any payments from customers. the project completed 2 years before and handed over to the residents Association. we have still 6 unsold units in the apartment.