Advance received on Sale of land

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Student
460 Points Posted on 08 October 2022
Will advance received on sale of land by real estate attract gst?
As sale of land does not attach gst.
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On 08 October 2022 at 11:46 Report
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This discussion clarifies whether an advance received on the sale of land is subject to GST. Generally, the sale of land itself is not subject to GST. Therefore, any advance payments received for land sold without associated development or service charges are also typically exempt from GST. The value of the land remains a key consideration in these transactions.

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SEO Sai Gr. Hosp.
212455 Points Posted on 08 October 2022

When any land is sold without any development charges, or service charges, it is out of levy of GST, and hence any advance received for that.

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On 08 October 2022 at 15:41
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Profession Business
28246 Points Posted on 08 October 2022
Value of the land is essential
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On 08 October 2022 at 20:56

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