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GST on residential property
One is planing to start a business of purchasing land and constructing a residential house property and after that selling the same. Will it attract GST? Consideration might be received before or after. Not registered in any affordable housing scheme. Please explain throughly and ITC too, if GST applicable.
Replies (1)
IF THE RESIDENTIAL UNITS SOLD AFTER COMPLETION CERTIFICATE ... NO GST APPLICABLE...
Otherwise yes, it will be applicable... Be it as advance amount..
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