GST on transfer of Showroom constructed on lease land

Hi Members,

 

I just want to know the applicability of GST in case of transfer of building constructed on lease Land. 

A private limited company took a land on lease and constructed a car show room at its own cost, after years of operation the private limited want to transfer the fixed assets appearing in its balance sheet, i.e. building, plant & Machinery, AC, furniture. now my question is whether the GST will be applicable in case of transfer of building and if yes at what rate.

Your input will be really helpfull

 

Thnaks

CA Robin

Replies (2)
Quick Summary
This discussion explores whether Goods and Services Tax (GST) applies when a company transfers a showroom it constructed on leased land. The company wishes to transfer fixed assets like the building, plant, machinery, AC, and furniture. Initial advice suggests GST may not be applicable in this scenario.

Sir I am new gst
GST is not applicable

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