Liability To Pay GST on Property registered in the name of Buyer but Completion Cert not issued.

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This query is : Resolved

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This discussion clarifies GST liability when a property is registered in the buyer's name before a completion certificate is issued. The consensus is that GST becomes payable on the date of property registration, as this signifies the completion of the sale transaction, even if the local authority hasn't issued the certificate yet.

Sudipta Das

Sudipta Das (Querist)

07 August 2024 Property registered in the name of buyer n 01-08-2024 but completion certificate not issue by local authority, Should GST liability be discharged. Total consideration for the property is received.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

07 August 2024 If completion certificate is not issued by local authority then GST liability arises on the builder.

Sudipta Das

Sudipta Das (Querist)

07 August 2024 Means obligation to pay gst arises in the date of registration of the property ??

Sudipta Das

Sudipta Das (Querist)

07 August 2024 I want to know should it be shown as sale on the date on which the property is registered or the date on which completion certificate is issued.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

07 August 2024 Sale transaction takes place on the date of registration of the agreement. So, GST liability also arises on the same date.

Sudipta Das

Sudipta Das (Querist)

07 August 2024 Thanks a lot sir for your reply.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

07 August 2024 You are welcome.

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