GST
This query is : Resolved
11 June 2020
Please suggest...
One llp doing Real Estate business having land in its own name they appoint one contractor made flats and then sell to buyers now question is can GST liability arise to LLP when sell ..
1. Entire consideration of sell recd after receiving completion certificate.
2. This income we take in PL as revenue from operation (net of expenses like contractor expenses ) is it right...
One llp doing Real Estate business having land in its own name they appoint one contractor made flats and then sell to buyers now question is can GST liability arise to LLP when sell ..
1. Entire consideration of sell recd after receiving completion certificate.
2. This income we take in PL as revenue from operation (net of expenses like contractor expenses ) is it right...
12 June 2020
1 No GST applicable when selling after receiving completion certificate. GST applicable on contractor.
2 Show full sale value (turnover) in p and l and contractor expenses separately.
2 Show full sale value (turnover) in p and l and contractor expenses separately.
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12 June 2020
Very thank you sir ...One more question we paid advance to contractor but he not give full bill we also file case against him can we book expenses without bill or only een case settled
12 June 2020
You can book expenses based on payment made and create liability based on work done.
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