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Gst on resale of landowners flat


sachin bhor (accountant)     24 September 2020

sachin bhor
accountant 
 24 points

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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.

avater

JASKARAN SINGH   24 September 2020

JASKARAN SINGH

 13 likes  209 points

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Yes GST will be applicable with ITC available and rate will be 18%

1 Like
avater

Pankaj Rawat (GST Practitioner)     24 September 2020

Pankaj Rawat
GST Practitioner 
 3569 likes  48227 points

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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 .

sachin bhor (accountant)     25 September 2020

sachin bhor
accountant 
 24 points

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Thanks


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