Registered taxpayer under gst selling his residential property is taxable or not

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Article Assitant
31 Points Posted on 05 August 2019

Dear Experts,

GST Registered person who is doing Trading Business. He is Selling his residential property.

My Query is Whether the sale proceeds of house property were taxable under GST act or not.

If Taxable Applicable GST Rate for that sale.

Please Clarify...

Thank you.

 

 

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On 05 August 2019 at 12:43 Report
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SEO Sai Gr. Hosp.
121427 Points Posted on 05 August 2019

No. GST not applicable over immovable properties.

1 Reply
On 05 August 2019 at 12:57
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Article Assitant
31 Points Posted on 05 August 2019
Thank you sir.
1 Reply
On 05 August 2019 at 13:05
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5046 Points Posted on 05 August 2019
Sales of immovable property not falling under GST.
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On 05 August 2019 at 13:22
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CA Practice
26 Points Posted on 05 August 2019
once the residential property has got completion certificate then this is not covered under supply by specific exclusion in Schedule III. Hence even if the person is registered if the said property is having completion certificate that is not eligible for charging GST and the same becomes exempt supply
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On 05 August 2019 at 13:59
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Professional
135 Points Posted on 05 August 2019

GST will not be levied on the above transaction as the transaction fall under Para 5 of Schedule III. But there might be reversal under Section 17(3). Please refer explanation to the said provision.

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On 05 August 2019 at 15:12
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5046 Points Posted on 05 August 2019
good clarification and information
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On 05 August 2019 at 18:34

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