Sale of land
Query (Issue) Started By: – Prudhvi Jakkula Dated:- 15-2-2019 Last Reply Date:- 25-3-2019 Goods and Services Tax – GST
Got 2 Replies
GST
Dear experts,
A sold land to B. Consideration for the same will be paid by B in 2 forms
a) Partly in cash
b) For remaining amount instead of paying cash, B offers some flats to A.
Now the problem is if B paid entire amount in cash, the transaction will not attract GST because of scheduleIII. If he offers flats it will become JDA.
As he is paying partly in cash and partly by flats, what will be the GST Implications?
Please solve my query.
Reply By Ganeshan Kalyani:
The Reply:
Ready made flats do not attract GST. Only under construction flats attract GST. So if B offer A som
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