Sale of immovable property treated as Supply – Goods and Services Tax – Started By: – NANDAKUMAR KONKAR – Dated:- 31-1-2017 Last Replied Date:- 4-2-2017 – Under MGST Law, Clause 5 (b) of Schedule II [transactions to be treated as 'Supply'] states that : construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or before its first occupation, whichever is earlier. broadly construed to mean that transfer of property under construction (where entire consideration has been received after issuance of comple
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
, it would not be a supply. So regardless of whether entire consideration is paid by buyer after CC or before 1st occupation, it would not be a supply. Alternately, if first occupation exception is not linked with receipt of entire consideration, it could mean in cases of occupation before issuance of CC, transaction would not be supply. Kindly clarify CA Nandakumar Konkar – Reply By KASTURI SETHI – The Reply = Dear Sir, Note the words, In GST there is no separate meaning for goods and services. written by Sh.M.Govindarajan, Sir in his article dated 1.2.17. – Reply By KASTURI SETHI – The Reply = Pl. read Goods or Services instead of goods and services . – Reply By NANDAKUMAR KONKAR – The Reply = Sir,My query is not whether sale of immovable
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =