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Small level builder


GAURAV KATYAL   28 June 2020

GAURAV KATYAL

 3 points

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a small level builder making residential flats and selling the same after completion and again performing the same activity

is gst liable to be registered?

avater

CA ABHAY GUPTA (Practice)     28 June 2020

CA ABHAY GUPTA
Practice 
 179 likes  2034 points

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No.. activity cover by schedule III of the act hence no gst levy

1 Like

Rajkumar Patel   28 June 2020

Rajkumar Patel

 21 likes  339 points

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100 and 110%, it is covered under scope of GST. sale of building is covered under schedule 3 if such building is sold after obtaining BU certificate.

1 Like
avater

Shivam RC (Student)     28 June 2020

Shivam RC
Student 
 2363 likes  18593 points

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As per Para 5 of SCHEDULE III of the CGST Act 2017, "Sale of Land and subject to clause (b) of Para 5 of Schedule II, Sale of Building" is neither treated as Supply of Goods nor Supply of Services.

Hence GST is not applicable on Sale of Completed Building.

3 Like

GAURAV KATYAL   28 June 2020

GAURAV KATYAL

 3 points

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If in such areas like kachhi colony type where no such completion certificate is required to sale flats and if any person buy a flat at 90% completion work and give token money say 10% and rest at time of registration. in this case what will be the scenario.

avater

SUSHIL PANCHAL   28 June 2020

SUSHIL PANCHAL

 1 likes  25 points

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Please ensure that he has not taken any amount before completion of property, if he took any amout then GST should be levied.. otherwise Gst shall not be levied

avater

KRISSHNAN KP   29 June 2020

KRISSHNAN KP

 252 likes  2884 points

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Yes no doubt

avater

CA Rashmi B (Assistant Manager)     30 June 2020

CA Rashmi B
Assistant Manager 
 39 likes  437 points

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If agreement is made before completion of building for the same of building after completion it would lead to supply of construction service and GST would be leviable. However if agreement made after completion certificate or OC obtained it willl be a schedule III transaction and no GST would be applicable


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