MULAGUNDLA THIRUPATHI (CA FINAL STUDENT) (2 Points)
30 June 2021one of our client selling Mining Land which was purchased before GST
Is GST Applicable on sale of Minning Land? if applicable what is the rate of duty.
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4615 Points)
Replied 30 June 2021
GST not applicable on sale of land. Part of Schedule III item of CGST Act. (immovable property)
Although, there may be some ITC reversal required as it is considered as exempt supply for the purpose of ITC reversal as per section 17(2), 17(3) r/w Rule 42 & 43.
CAclubindia
