Gst on buying and selling entire residential building
This query is : Resolved
18 October 2022
an old bulding was bought by real estate builder company and resold it at a gain. is there gst on it? builder has kept in fixed asset bal sheet (its not his stock in trade)
my view-->no, as building has no gst.
even if builder considers building as stock in trade, still no gst as bilding has no gst rate.
note --> we not talking of any service of building , its just buy and sell of entire building.
my view-->no, as building has no gst.
even if builder considers building as stock in trade, still no gst as bilding has no gst rate.
note --> we not talking of any service of building , its just buy and sell of entire building.
Dhirajlal Rambhia
(Expert)
19 October 2022
Your assumptions are totally correct.
Any property having completion certificate is out of GST levy.
Any property having completion certificate is out of GST levy.
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