CA Ankit Agarwal (CA, CS) (693 Points)
06 March 2018The landlord has got 5 flats as his share.
Will GST be applicable if I purchase the flat from him?
The flats are complete, but comnpletion certificate is not received yet.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177721 Points)
Replied 06 March 2018
Prima facie GST is not levied over the sell transaction from owner, as he is not a developer.....
But practically, he transfers his liability to pay GST over his shares of GST to be paid to developer for development of land..... over the flat purchaser/s!!!
CA Ankit Agarwal
(CA, CS)
(693 Points)
Replied 06 March 2018
So , it means I need to pay GST on the value of flat?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177721 Points)
Replied 06 March 2018
Can clarify or negotiate terms.... (otherwise also he may not have GSTIN !!!)
CAclubindia
