GST on sale of industrial gala/shop On MIDC Land, Goods and Services Tax - GST

[Ravindra Vyas]

Please help for effective rate of GST on construction and sale of only industrial gala/shop

its two floor industrial complex with 108 units

Thanks & Regards

Posts / Replies

[CAHemanth Kumar]

Dear Ravindra Vyas,

Based on the understanding of query, my view will be

1. if it is sale of business as a going concern it would be an exempt supply as per S.No 2 of notification no.12/2017 CT(R)

2. In case if it is a sale of only an industrial building

a. Under construction - taxable at effective 12%

b. Sale after OC - No GST.

[Shilpi Jain]

Agree with Hemanth. Also pls check if there could be any GST liability under RCM on the amounts paid to MIDC.