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GST on property
will GST be applicable on transfer of property (residential flat) owned by company to an individual or to it's directors.
Replies (3)
Not as per transfer of property act (capital transfer), but yes, if its any service/remuneration in nature.
GST is applicable on supply of Goods or Services or Both. As per the definition of Goods it does not include any immovable property. Hence if you are transferring the ownership of the residential flat from Company to Directors GST will not be applicable.
thanks for your response.
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