sachin bhor (accountant) 24 September 2020
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.
Pankaj Rawat (GST Practitioner) 24 September 2020
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 .