Applicability on vacant land & vacant residential sites.
This query is : Resolved
06 September 2017
Dear Experts My friend purchased vacant land in Acres after some time he converted the same in to residential sites and sell to individual parties. My query is whether these transactions covered under GST Regim. If So, please provide the details. Thanks in advance.
06 September 2017
Schedule III, para 5, Specifies sale of Land and Building is neither Supply of Goods nor services, subject to Schedule II para 5(b), In your case it seems to be not a supply under GST, Hence no GST applicable.
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