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Issue ID : 117778
- 0 -

GST on sale of industrial gala/shop On MIDC Land

Date 24 Jan 2022
Replies2 Answers
Views 3393 Views
Asked By

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

2 answers
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- 0
Replied on Jan 24, 2022
1.

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.

- 0
Replied on Jan 27, 2022
2.

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

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