Gst on old land sale
This query is : Resolved
23 March 2019
Dear Sir,
I have registered under GST for my professional charges. I have purchased agriculture land in 2013.
now i am selling the same, is GST Liable on such transaction?
if yes than but is gst rate if no is it NON GST Supply?
I have registered under GST for my professional charges. I have purchased agriculture land in 2013.
now i am selling the same, is GST Liable on such transaction?
if yes than but is gst rate if no is it NON GST Supply?
CA R SEETHARAMAN
(Expert)
24 March 2019
Sale of immovable property like land is outside the purview of GST. GST not applicable on this sale.
SHUBHAM SHARMA
(Expert)
28 March 2019
GST is not chargeable on the same. However, Reversal of ITC will be attracted in accordance with provisions of Section 17(3) of the CGST Act.
Thanks and Regards
CA Shubham Sharma
contact-9462302922
shubham.vnv@gmail.com
Thanks and Regards
CA Shubham Sharma
contact-9462302922
shubham.vnv@gmail.com
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
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Visiting card purchase
- Wrong CMPo8 file
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
