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TMI BlogGST on construction serviceX X X X Extracts X X X X X X X X Extracts X X X X ..... An individual engages the builder to construct 6 flats on his land and proposes to sell 3 flats before the completion of the construction. The query is what is the tax rate to be adopted by the indiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idual for the proposed sale of a flat? Whether 5% on the whole consideration or 18% on the construction value and avail an ITC charged by the builder to the seller. - Reply By Amit Agrawal - The Repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y = GST @ 5% is payable on whole consideration for the flat, without any ITC. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. - Reply B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Shilpi Jain - The Reply = Assuming this transaction is on or after 01.04.2019 - 5% will be applicable for the residential flat - Reply By V Rajalakshmi - The Reply = Thank You Amit Agrawal JI and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shilpi Jain Ji for the prompt reply. Another follow-up question is whether RCM will be applicable for the 3 flats which are not intended for sale. - GST on construction service - Query Started By: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - V Rajalakshmi Dated:- 4-11-2022 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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