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Is GST is applicable on Sale of flat and construction work?
Is GST is applicable on sale of flat and construction work in point of view of the promoter or builder?
Replies (5)
Quick Summary
1. GST is not applicable on sale of constructed flats, However GST is applicable on sale of under construction flats.
2. In case of person transfer it's land to builder to develop flats-
A. if flats sold before construction- then GST shall be levied on sale of flats.
B. if flats sold after construction than builder will pay GST under RCM on transfer on land by person to builder.
also builder shall charge GST on service of construction
2. In case of person transfer it's land to builder to develop flats-
A. if flats sold before construction- then GST shall be levied on sale of flats.
B. if flats sold after construction than builder will pay GST under RCM on transfer on land by person to builder.
also builder shall charge GST on service of construction
A builder cum promoter has been paid gst on sale of building materials like cement and iron bars but he didn't pay the gst on sale of flat but both has considered in turnover as per financial but flat sale not consider in gst annual return....is it correct?
Flat sold under Construction of After Construction?
All are constructed flat sold by the developer
GST is not applicable on sale of Constructed / Completed flat.
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