i am the land owner another person builder build a appartement now 95% complete the project while I am sale the appartement of my share shall I pay the GST?
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GST on Flat Sale
Replies (8)
No ..... if it is not your business......
it's neither good nor service, hence outside purview of GST
you are rendering construction service as described in chapter 9954 item (i) i.e construction of a complex, building or any civil structure. Since you are selling it before issuance of completion certificate, you are liable to pay GST on the consideration received from the buyer before issuance of such certificate.
assuming whole of the consideration is received after its occupation or issuance of completion certificate, it's not a service, hence no GST
Completion certificate or first occupancy is the dividing line. GST is applicable on amount received prior to these situations.
what if the whole of the consideration is received after completion certificate is issued.
Then no GST, since after completion, it is sale of immovable property.
that's what I was trying to say
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