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

Registration 242 views 6 replies

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.

 

 

Replies (6)

No. GST not applicable over immovable properties.

Thank you sir.
Sales of immovable property not falling under GST.
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

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.

good clarification and information


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