Sale of land

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..... 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, t .....

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..... he 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 some already constructed flats then no GST is applica .....

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..... ble. Reply By HariKishan Bhonagiri: The Reply: The problem is to be analysed in to two supplies land supply made to B i.e supply of land by A to B. This is sale of immovable property. it is immaterial whether he is received in cash or kind or any other mode. It is neither supply of goods nor supply of services as per Schedule III of GST Act.the valuation in registration act is not to be conside .....

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..... red here. Flat supplied to A.i.e supply of flat by B to A: This is supply of service ( flat under construction ) or sale of flat depend upon the facts of the case. which were not provided. If it is under construction flat then it is a service B has to discharge the GST as per valuation rules. If it is flat falls under Schedule III then no GST
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