Hello
I paid advance for land in 2015 and now I received back the same and cancle agreement now I want to know is there any liability arise in Gst on amount received.
please clarify
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Gst liability on canclation of agreemnet
Replies (3)
There is no GST on sale of Land.
Since land is an immovable property and not falling under goods, hence GST not leviable.
You have just received back your money. There is no supply involved therefore there is no GST applicable.
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