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puchase and sale of land..

ankush nayak (preparing for ca exam) (34 Points)

24 August 2018

which r the sections who describe about the provisions of applicapability of gst on the above said company..?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171262 Points)
Replied 24 August 2018

Land and buildings are immovable properties and are not classified as goods. Hence a transaction for sale of land and sale of building neither treated as supply of goods nor a supply of services.

Thus, sale of land and building are not subject to GST.

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ankush nayak (preparing for ca exam) (34 Points)
Replied 24 August 2018

thanks a lot sir...

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Shivam RC (Student) (23683 Points)
Replied 24 August 2018

Agree with Rambhia Sir...

Land being an Immovable Property, is neither treated as Goods nor Services under GST.

Moreover, as per Para 5 of SCHEDULE III of CGST Act 2017, Sale of Land is neither treated as a Supply of Goods nor a Supply of Service.

Hence, No GST leviable on Purchase and Sale of Open Land.

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