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

C A ARUN KUMAR ABEL (Article Assitant) (41 Points)

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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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (175726 Points)
Replied 05 August 2019

No. GST not applicable over immovable properties.

1 Like

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C A ARUN KUMAR ABEL (Article Assitant) (41 Points)
Replied 05 August 2019

Thank you sir.

1 Like

subhagan sreerangam (7044 Points)
Replied 05 August 2019

Sales of immovable property not falling under GST.

NILESH DESHMUKH (CA Practice ) (26 Points)
Replied 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

Anshul Jain (Professional) (190 Points)
Replied 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.