Sale of personal asset (Residential house)

Balasubramanian R (Chartered Accountant) (85 Points)

01 September 2017

Is Gst applicable in case of sale of personal asset (Residential house) owned by an individual to another individual? Both are unregistered.

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 01 September 2017

No........ GST applicable only when supply is for furtherance of any business.

Archit Goel (Student) (96 Points)
Replied 01 September 2017

Further where the supply is for furtherance of business, then immovable property if completed is not a supply, hence no gst

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