Gst impact on immovable properties
rongali siva (16 Points)
29 July 2017
what is the impact of gst while selling or buying the residential property or commercial property
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193950 Points)
Replied 29 July 2017
At present everything is stagnant........ wait for some movement......... Good in long run, but in 2018 and.........
Gauraksh Malik
(Student CA Final )
(78 Points)
Replied 29 July 2017
as per section 2 (102) of cgst act
supply of Immovable property is supply of service so
if u selling a under construction property
then GST is leviable as per entry no 5b of schedule II
if u r renting any immovable property then gst is leviable under entry 5a of schedule II
if u sell land or building then gst is exempt as per entry no 5 of schedule III
but if other than land or building any other immovable property
if construct, installation
gst will be leviable bcse of basic defination of service.
supply of Immovable property is supply of service so
if u selling a under construction property
then GST is leviable as per entry no 5b of schedule II
if u r renting any immovable property then gst is leviable under entry 5a of schedule II
if u sell land or building then gst is exempt as per entry no 5 of schedule III
but if other than land or building any other immovable property
if construct, installation
gst will be leviable bcse of basic defination of service.
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