I gave my land to developer/builder. In consideration He gave 28 flat in .i paid for all stamp duty + GST in 2015.now I'm reselling flats in 2020.Flats are still under construction.Completions certificate not issued.Is gst applicable on same?what rate?Can I claim input credit.
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Gst on resale of landowners flat
Replies (3)
Yes GST will be applicable with ITC available and rate will be 18%
Yes GST will be applicable but with new rates :
As per Notification 3/2019 CT (R) , for affordable residential apartment it's 1% GST without ITC & for Non affordable residential apartment it's 5% GST without ITC .
As per Notification 3/2019 CT (R) , for affordable residential apartment it's 1% GST without ITC & for Non affordable residential apartment it's 5% GST without ITC .
Thanks
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