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GST on purcahse of home

18 December 2017

Is GST applicable on purchase of home from an individual. If applied, on what amount GST calculated because Stamp duty calculated on the value of home with certain percentage laid down by the state. Then GST calculated on stamp duty r from the cost of home

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6 Replies

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 18 December 2017

If you are buying home from individual who is not in the business of construction / builder/ not registerd under GST you need not to pay GST. One more thing GST is not applicable on ready to move home sale , even by builders

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Navaneetha Krishnan G (43 Points)
Replied 18 December 2017

Thank you sir

Anurag lohiya (Bara bazar) (262 Points)
Replied 19 December 2017

It shold be noted it is all about Completion certificate and not about Occupancy certificate to be required to make a home a exempt from GST by virtue of schedules to section 7.
However if you have purchased home prior to receipt of Competion certicate then 1/3rd potion of Sale consideration shall be deducted to determine taxble value. and GST should be charged on balance amout.
* It is applicable only in case of builder registered under GST.