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Income Tax & GST Query

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(Querist)
07 August 2020 Brother (Builder/Construction business) gift one of the flat to his sister.

please help with Tax and GST implication on both brother and sister.

as per me, no Income tax in the hands of sister as its a gift. what about GST?

its a Stock for brother and hence how it will be treated in books of accounts and income Tax?

as per schedule 1, GST is applicable on supply to a relative without consideration so will he collect GST from sister?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 August 2020 No Income tax in the hands of sister as its a gift. GST is applicable on supply to a relative without consideration so collect GST from sister.
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CA. Aditya Goel

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CA. Aditya Goel (Querist)
10 August 2020 but since its a flat, is GST applicable here?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 August 2020 GST applicable on under construction flat. Completion certificate obtained flats no GST applicable.
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