Sale of land
Rahul agrawal (Student) (35 Points)
18 December 2020Rahul agrawal (Student) (35 Points)
18 December 2020
gameplaysNmore
(96 Points)
Replied 18 December 2020
Rahul agrawal
(Student)
(35 Points)
Replied 18 December 2020
gameplaysNmore
(96 Points)
Replied 18 December 2020
Rahul agrawal
(Student)
(35 Points)
Replied 18 December 2020
gameplaysNmore
(96 Points)
Replied 18 December 2020
Shivam RC
(Student)
(23683 Points)
Replied 18 December 2020
APURBA CHATTERJEE
(QUALIFIED CHARTERED ACCOUNTANT)
(602 Points)
Replied 19 December 2020
Activities mentioned in schedule III is considered as "No Supply". Even if "No supply’ will NOT be exempt supply but still liable to be included in ‘aggregate turnover’ except in cases where specifically some are considered exempt supply for purposes of section 17(2). Please refer discussion under section 2(78) on non-taxable supply for a comparative study between ‘exempt supply’, ‘non-taxable supply’ and ‘no supply’.
APURBA CHATTERJEE
(QUALIFIED CHARTERED ACCOUNTANT)
(602 Points)
Replied 19 December 2020
Activities mentioned in schedule III is considered as "No Supply". Even if "No supply’ will NOT be exempt supply but still liable to be included in ‘aggregate turnover’ except in cases where specifically some are considered exempt supply for purposes of section 17(2). Please refer discussion under section 2(78) on non-taxable supply for a comparative study between ‘exempt supply’, ‘non-taxable supply’ and ‘no supply’
So here sale value of land need to be considered to compute aggregate turnover.
ayusmita
(Tax consultant)
(5885 Points)
Replied 19 December 2020
Sale of land and building expect when sold before completion certificate is neither supply of service nor supply of goods as per sechdule III of cgst act
But again gst is there when a vacant land is sold with other criteria
If it's relating to business both then gst registration required others wise in my opinion not