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Gst on buying re-sale unconstruction property.

116 views 1 replies

Hi Experts,

I was scanning few properties and came across 1 property which is under construction.

This building was under re-development. Initially it was 3 floors and now builder has planned for 15 floors.

Old tenants who has already done registration after builder alloted him a new block.Tenant want to sell his property.

My question is GST needs to be paid on this property ?  If yes , then how much ? 

Reason for asking , i read few article which says GST need not to be paid if completion certificate or OC is available or re-sale property.

Let me know your advice/Suggestions. Thanks again for your valuable inputs and time.

 

Regards,

Aki...

Replies (1)

As you will be buying it from an allottee and not from builder, GST cannot be levied by the seller, who is not in such business........... but check the compliance of the seller with the builder, whatever may be pending dues (including GST) etc will be carried over on your head. If any payment is to be done to builder (including society charges etc.) from your end would attract GST.


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