GST on Resale of under construction property

Mr.A had purchased an under construction flat from a builder for 50 lakhs rupees plus gst. However, the same under construction flat is sold to Mr.B for 70 lakhs within a period of 1 year. The OC is not received. what will be the impact of GST on such scenario.
Replies (3)
Quick Summary
This discussion explores the Goods and Services Tax (GST) implications when an under construction property is resold within a year, before the Occupancy Certificate (OC) is received. While GST typically applies to new property sales, the resale of an under construction property by an individual may not always fall under GST if it's considered a transfer of personal assets rather than a business activity. However, if the sale consideration is received before the completion certificate, GST might still be applicable.

Another view: GST applies to supplies (of goods or services) made in course of furtherance of business and transfer of personal assets or rights does not all within ambit of GST. So if an under constriction property is transferred through resale by an individual, it may not be liable for GST.

GST applicable on under construction property since sale consideration is received before completion certificate.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details