GST for cinstruction

Save Share

This query is : Resolved

Quick Summary

From December 1, 2023, in Tamilnadu, land and construction are registered in a single deed. Previously, stamp duty was on land and GST on construction separately. Now, with a single deed, the transaction is considered a sale of house property, and GST is generally not applicable on completed properties. This change simplifies the process and potentially reduces costs for buyers.

sri vijayan

sri vijayan (Querist)
Follow

08 July 2024 Previously, when we buy new flat, the uds of land alone is registered.
Stamp+fee @9% of land cost alone was paid.
A separate agreement for construction is executed.
GST @18% of building cost was paid.

Now, from Dec 1, 2023 in Tamilnadu.
both uds of land and building was sold/ registered in a single deed.
Stamp+fee @9% of cost [land + bulding] is paid.

Now, this transaction is considered as sale of house property.
I feel, we need not to pay GST in this transaction.

Am I right?