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GST applicability on Purchase of flats

IMRAN MANSURI (studenet) (40 Points)

25 October 2018

what rate of GST on Purchase of Flat ?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182135 Points)
Replied 25 October 2018

For ready to occupy flats (having CC) no GST applicable, otherwise 12% over total cost (including land value) for unser-construction flats/units.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182135 Points)
Replied 25 October 2018

For ready to occupy flats (having CC) no GST applicable, otherwise 12% over total cost (including land value) for under-construction flats/units.

Manish Agrawal (Qualified) (26 Points)
Replied 25 October 2018

While registration of property on which GST was charged @ 12%, stamp tax to be paid on total consideration value including GST or total consideration excluding GST component?

IMRAN MANSURI (studenet) (40 Points)
Replied 25 October 2018

including land ?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182135 Points)
Replied 25 October 2018

On value of property agreement, which is usually without GST. GST is charged additionally on behalf of government.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182135 Points)
Replied 25 October 2018

I.e, when value of land or its share is inclusive in the cost of property like apartment.

Whenever there are seperate agreement of land and construction of property, then 18% GST over the works contract.

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CA Monika Motta (Partner) (1219 Points)
Replied 25 October 2018

I guess two separate agreement can't be made unless it is sale of villa.in case of sale of flats one third deduction should be made from sale consideration and GST should be paid at 18% on 2/3rd Value of consideration