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GST on ready to move completed property
is there GST applicable on complete ready to move property. I am purchasing a ready to move residential house and builder demand GST on sale. is this right or wrong...?
Replies (3)
Quick Summary
The applicability of GST on the immovable property depends upon the issuance of a certificate of completion by the competent authority. If the certificate of completion for a particular property is obtained before making any payment to the seller, the same would be considered as a sale of ready-to-move-in property and not a supply of goods or services. Hence, no GST would be applicable to the sale of completed flats.
GST will be applicable on the sale of under- construction property or ready-to-move-in flats where completion certificate is not issued/received at the time of sale.
GST will be applicable on the sale of under- construction property or ready-to-move-in flats where completion certificate is not issued/received at the time of sale.
But sir it is only a plot and developed by builder there is no any competent authority where he get the completion certificate
If you have bought a single residential house before obtaining the completion certificate from the competent authority, you have to pay GST. Taylor Swift 2048
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