GST Applicable under construction property

Dear Sir,

GST Applicable under construction property

details as below,

i have purchased Property i.e. flat in June 2019 and possession received in December 2023

now i have plan to resale our under construction property before possession then it is Applicable GST charge to buyer from my side?

Property value approx 2.5 Cr


please guide.

Replies (2)
Quick Summary
This discussion addresses whether Goods and Services Tax (GST) is applicable when reselling an under-construction property before receiving possession. The consensus is that if the property was purchased in June 2019 and is being resold before possession in December 2023, the buyer will likely be liable for GST on the balance amount paid to the builder. The original purchaser may not be entitled to claim back any GST they initially paid.

What type of agreement will you have, as you have not received possession yet?

If tripartite, you will not be entitled to GST paid earlier. Balance amount paid to builder will be paid by the purchaser with GST lability.

Agree with reply by Sh Dhirajlal ji.

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