Registration

[VishnuPriya R]

A builder is into construction of flats. And decided to sell flats after obtaining of CC only and also not sold nor received any money before CC. Sale after CC is covered under Schedule III hence not liable for GST. However builder has not obtained GST registration as he does not have aggregate turnover. Is he liable for GST registration u/s. 24 and also liable to pay RCM under GST for inward supplies in case the 80:20 ratio is not meet?.

Thank you.

AI Summary

Reverse charge mechanism: registration compulsory if specified input threshold not met for post-completion flat sales.
If a promoter's inputs from registered suppliers fall short of the prescribed input threshold, tax on the shortfall is payable under the reverse charge mechanism and registration is compulsory under Section 24(1)(iii); an opposing view contends that post-completion-certificate sales fall under Schedule III and so the notifications imposing the input-threshold reverse charge and related registration obligations do not apply.