Gst on flat purchased
Arshad Ali (25 Points)
26 March 2018
is there any gst on flat purchased for personal purpose?
Arshad Ali (25 Points)
26 March 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160767 Points)
Replied 26 March 2018
No, if flat is having completion certificate....... i.e. ready to move in.
Arshad Ali
(25 Points)
Replied 26 March 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160767 Points)
Replied 26 March 2018
Transfer of completed property is not considered as rendering services to a buyer and thus does not attract GST. According to the CBEC's clarification, “Sale of building is an activity or consideration which is neither a supply of goods nor a supply of services. (Para 5 of schedule III of the CGST Act, 2017).” So if you buy a completed property, it will help you save money in form of tax.
Refer: cbec/gst/GST_on_property
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