13 December 2017
RESPECTED MEMBERS, I WANT TO KNOW IN THE CONTEXT OF GST RATE ON COMPLETE HOUSES, WHAT WILL BE THE STATUS OF GST RATES ON A BUILDING OR HOUSE WHICH HAS BEEN CONSTRUCTED BY A BUILDER BY PURCHASING A LAND AND AFTERWARDS DOING CONSTRUCTION OF A HOUSE OVER IT. IS GST APPLICABLE OVER HIM? IF YES THAN WHAT WILL BE THE STATUS OF GST RATES IN THE RELEVANT FIELD. PLEASE CLEAR THE QUERY IN THE LIGHT OF ELOBARATE ANSWER.
13 December 2017
GST not applicable on sale of house after obtaining completion certificate. 12% GST applicable with input credit if sold during construction.
14 December 2017
THANKS A LOT CA. R SEETHARAMAN FOR UR PRECIOUS REPLY, BUT ON THE EXTENSION I HAVE ADDITIONAL QUERY IN RELEVANCE OF PREVIOUS QUESTION ,WHAT WILL BE THE STATUS OF GST ,IF I`M DOING A BUSINESS OF SELLING HOUSES BY CONSTRUCTING THEM?
CAclubindia
