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GST APPLICABLE
Bought Empty Plot for Rs.4,00,00,000 and sold at Rs.9,00,00,000 (TP Final Empty Plot) GST Applicable? If yes then on which Amount?
Replies (3)
As per Para 5 of SCHEDULE III of the CGST Act 2017, "Sale of LAND and subject to clause (b) of Para 5 of SCHEDULE II of the CGST Act 2017, Sale of BUILDING" is neither treated as Supply of Goods or Supply of Services...
Hence GST not applicable on Sale of Empty LAND...
Hence GST not applicable on Sale of Empty LAND...
Schedule III of para 5 of thebCGST Act 2017 mentioned "Sale of Land and subject to clause (b)of para 5 of schedule II of the CGST Act 2017"Sale of building" is neither treated as Supply of goods or Supply of Service.So GST not applicable on Sale of Empty Land.
good clarification and information...
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