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gst on real estate
please expidite on what basis gst attracts on underconstruction property. The gst is not applicable for the property ready to move. Though the property value remains same for both i.e. under construction as well as ready to move.
Replies (1)
Under construction property is considered as supply of 'works contract' service and hence GST charged.
In case, rates are same for both, customer would prefer completed unit.
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