ICICI

Gst on flats


CA Ankit Agarwal (CA, CS)     06 March 2018

CA Ankit Agarwal
CA CS 
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The landlord has got 5 flats as his share.
Will GST be applicable if I purchase the flat from him?

The flats are complete, but comnpletion certificate is not received yet.

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Dhirajlal Rambhia (KVO Merau Kutchh)     06 March 2018

Dhirajlal Rambhia
KVO Merau Kutchh 
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Prima facie GST is not levied over the sell transaction from owner, as he is not a developer.....

But practically, he transfers his liability to pay GST over his shares of GST to be paid to developer for development of land..... over the flat purchaser/s!!!

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CA Ankit Agarwal (CA, CS)     06 March 2018

CA Ankit Agarwal
CA CS 
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So , it means I need to pay GST on the value of flat?

 

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Dhirajlal Rambhia (KVO Merau Kutchh)     06 March 2018

Dhirajlal Rambhia
KVO Merau Kutchh 
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Can clarify or negotiate terms.... (otherwise also he may not have GSTIN !!!)

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