Sunilkumar (CA) (30 Points)
15 December 2022Dear Experts,
Dealer had taken the land on rent and constructed the shed and flooring for business. Due to accumulated losses in 3-4 years, dealer wants to sale the shed and internal fittings structure. Structure is capitalized as building under Fixed Asset in Balance sheet.
Landlord is ready buy the structure. Whether sale of structure which is on land owned by landlord would be chargeable with GST or would be covered under non GST item as immovable building?
Thanks
sabyasachi mukherjee
(27574 Points)
Replied 16 December 2022
Sunilkumar
(CA)
(30 Points)
Replied 16 December 2022
Dear sir,
Question is not about GST on renting.
Tenant has built the structure on land owned by landlord now tenant will sale this shed structure to landlord so whether GST would be chargeable on this sale..
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 16 December 2022
Vipul Acharya
(Account Officer)
(647 Points)
Replied 10 January 2024
Dear Sir
Similar to above we have constructed a building on the land owned by our sister concern and after construction taken the same building on lease for 8 years
As we (tenant) constructed building hence we capitalized the same in our books also as Building, now we have vacate the building, do we need to write off the building in our books or is to be sold to owner at WDV.
Kindly advice, if to be sold at what GST Rate and HSN Code
CAclubindia
