"A" is person who buys the land in non-metropolitan city,divide the land and develops 3-4 independent houses on it. When he is selling those houses ,is he liable to pay GST on sale. Can he avail ITC on the construction material used in building. If he is liable then what is GST rate. (The land he is purchasing is been treated as stock in trade in Balance Sheet.)
Menu
GST Applicability on Real Estate
Replies (2)
Quick Summary
Yes. 1% or 5% depending on carpet area and 45 laks restriction without I t c
Kishore sir please can you explain in brief and what is carpet area?
Recent Topics :
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
- Criteria to hire an article
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
Related Topics :
CAclubindia
