Gst for builder

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Tax Practioner
240 Points Posted on 16 July 2020

A BUILDER WHO IS CONSTRUCTING RESIDENTIAL FLATS AND SELLS. HE HAS OBTAINED COMPLETION CERTIFICATE FOR THESE FLATS AND NEED NOT TO CHARGE GST ON SELL OF FLATS. MY QUESTION IS, IN GSTR3B AND GSTR1 HOW WILL WE SHOW THIS SELL AMOUNT?

PLEASE GUIDE

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On 16 July 2020 at 19:48 Report
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Quick Summary
This discussion clarifies the GST treatment for builders selling residential flats once a completion certificate has been obtained. As these sales are considered 'neither a supply of goods nor a supply of services' under Schedule III of the GST Act, no GST is applicable. Consequently, these sale amounts do not need to be declared in GSTR-3B, GSTR-1, or GSTR-9 filings.

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Practice
3235 Points Posted on 16 July 2020
GSTR3B - outward supply - Non GST Supply as cover by Schedule III.

GSTR under column no 8 . Nil-rated, exempt and non-GST outward supplies
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On 16 July 2020 at 20:08
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Tax Practioner
240 Points Posted on 16 July 2020

SIR AS PER SCHEDULE III ITS NON SUPPLY. NOT NON GST SUPPLY.

PLEASE GUIDE.

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On 16 July 2020 at 20:13
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1102 Points Posted on 22 July 2020
On sale of flat, no Gst will charge as entry lies under Sch-III, As it is not supply then it will not be consider as Non GST supply
No entry will made in Gstr3b
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On 22 July 2020 at 22:51
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Tax Practioner
240 Points Posted on 23 July 2020

THANK YOU

I WANT TO KNOW THAT WHERE WILL WE SHOW IT IN GSTR1 OR GSTR9

 

REGARDS

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On 23 July 2020 at 18:12
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1102 Points Posted on 23 July 2020
No requirement in Gstr1 and 9 also
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On 23 July 2020 at 18:18

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