Sale of office

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This discussion explores the Goods and Services Tax (GST) implications when an individual sells a personally owned office property to a private limited company they are a director of. Key questions revolve around whether GST is applicable on the sale proceeds and if the private limited company can claim input tax credit. Initial advice suggests that GST may not apply if the property is considered personal and the individual is involved in share trading, rather than property trading.

Pardeep Kapil

Pardeep Kapil (Querist)

12 March 2021 an individual is having GST registration number and doing trading business.... He owns a property in his/her name and monthly rental is received.....This office property is five years old.... He/she is also a director in a private limited company.. Now This individual want to sell same property to Private Limited Company.... Now how much GST to be charged on sale proceeds from this individual to Private Limited Company... Can Private Limited Company claim input credit.... Regards

CA Altamush Zafar

CA Altamush Zafar (Expert)

12 March 2021 No GST will be charged on sale of land and building

Spurto Consultancy Services

Spurto Consultancy Services (Expert)

12 March 2021 1. Whether you are into property trading or share Trading?
2. If share trading then no GST will be applicable because the property is your personal property.

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