Dear Experts,
GST Registered person who is doing Trading Business. He is Selling his residential property.
My Query is Whether the sale proceeds of house property were taxable under GST act or not.
If Taxable Applicable GST Rate for that sale.
Please Clarify...
Thank you.
No. GST not applicable over immovable properties.
GST will not be levied on the above transaction as the transaction fall under Para 5 of Schedule III. But there might be reversal under Section 17(3). Please refer explanation to the said provision.
Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
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