GST on Construction Sectors
This query is : Resolved
22 June 2017
can any body give me any details regarding GST on construction contract..
CA R SEETHARAMAN
(Expert)
22 June 2017
Under GST, sale of under-construction real estate properties would be classified as a supply of services and would be liable for payment of GST. However, sale of completed real estate properties and land are exempted. There would be no change in stamp duty and registration charges on the aforementioned three categories of real estate sale transactions, the GST regime would not subsume stamp duty and registration charges. However, the service tax and value added tax (VAT) charges, currently payable on sale of under-construction properties, would be subsumed by the GST.
GST rate will be 12% for construction of buildings intended for sale to a buyer, where the value of land is included in the sale value. In case the land and construction values are explicitly identified through separate agreements, the GST rate applicable is expected to be 18%
GST rate will be 12% for construction of buildings intended for sale to a buyer, where the value of land is included in the sale value. In case the land and construction values are explicitly identified through separate agreements, the GST rate applicable is expected to be 18%
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Urd purchase entry in tally prime
- GSTR-9C filing
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
