Menu
Works contracts, Purchase and Sale of plots
We do works contract for new houses, puchase and sale open plots..yearly T.O. Rs.2cr above...now pls tell me we need gst registration? eligible for kind of ITC? how we collect gst from clients on works contracts and only sale of plots? gst rate?...upto now we did not register under gst. started our business in Aug-2016.
Replies (16)
yes registration under gst is required ..as the 'work contract ' is defined as service under gst and turnover is more than 20 lakh.
Thank u for ur qck reply. pls clarify, How can we utilize of ITC? how we collect gst from clients on works contracts and on sale of plots? various gst rates?
sir in the case we can not collect advance payment from customers than no need for gst registration.
Yes, GST registration is required. GST is not charged on sale of plots and house (if whole consideration is received after completion certiicate). These both are exempt. If only these types of supplies are there. Then no need for registration.
sale of plots only not attract gst, if u sale of under construction flats then attract gst , in your case sale of plots comes under immovable property no work contract ,u can sale without obtaining gst registration
if u sale of under construction flats then attract gst. at what rate?
If you sell under constructed flats, then rate of GST is 12%
If you sell under constructed flats, then rate of GST is 12%
If you sell under constructed flats, then rate of GST is 12%
If you sell under constructed flats, then rate of GST is 12%
If you sell under constructed flats, then rate of GST is 12%
If you sell under constructed flats, then rate of GST is 12%
If you sell under constructed flats, then rate of GST is 12%
Thank u sir
Recent Topics :
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
Related Topics :
CAclubindia
