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gst on Land sale

Rajiv (Senior Accounts Officer) (1548 Points)

14 August 2018

Experts
Is Gst will be applicable on sale of land plot building ?
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6 Replies

Ankita Chachan (practitioner) (548 Points)
Replied 14 August 2018

No Land is kept out of the purview of GST. Sale of Building after obtaining completion certificate will not attract GST.

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Rajiv (Senior Accounts Officer) (1548 Points)
Replied 14 August 2018

means sir Gst will be also not applicable on Flat Sale ?????

Ankita Chachan (practitioner) (548 Points)
Replied 14 August 2018

Only if u sold it after obtaining certificate of completion.

Rajiv (Senior Accounts Officer) (1548 Points)
Replied 14 August 2018

means Mam if we will not get completion certificate then gst will be applicable . what rate mam ????

Shivam RC (Student) (23683 Points)
Replied 14 August 2018

As per SCHEDULE III Para 5, of Central Goods and Services Tax Act ( CGST ) 2017, Sale of Open Land and Completed Building is neither treated as a Supply of GOODS nor a Supply of SERVICES.

Hence, no GST leviable on Sale of open plot and Completed Building.

However, as per SCHEDULE II Para 5 Clause (b), Sale of Under-Construction Building/Advance received at the time of construction of Building would amount to a Supply of SERVICE and hence GST will be levied thereon.