Hey,
All of us have read news about GST being applicable on any real estate transactions. There is a slight difference in payment of GST for the sale of apartments and GST on sale of land. I have conducted thorough research on the topic. Keep reading to know everything I learned from the internet.
Is GST applicable on sale of land ?
GST is levied on the sale of goods and goods including all movable property. Since land is an immovable property, the sale of land will not be subjected to GST. According to Schedule III of the CGST Act, the sale of a plot cannot be seen as a sale of goods or a supply of services.
This means, there is no GST on sale of land in india. If you are selling land, you will have to pay the stamp duty set by the state. If you get services like water line, electricity, and drainage on your plot making it a plotted development. Then GST will be levied. As Schedule II Para 5 Clause (b) in CGST Act states plotted developments will be liable to GST.
GST on sale of plot of land is not there yet services attract GST. This is all from my end on GST on sale of land. I hope your doubts have been cleared.
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Read more :
How to Calculate GST on Sale of Land?
Do I Have to Pay GST on Land Purchase?
How to change quarterly to monthly in GST?
How the GST is calculated on underconstrcted flat
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Authors Of The Question
Is GST applicable on sale of land ?
Rini
260Views
2 Year
2022-05-11T10:58:26+00:00 2022-05-18T17:08:11+00:00Comment
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