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of <h1>GST Exemption on Land Sales: Para 5, Schedule III of CGST Act 2017; Leasing Taxed at 18%</h1> Para 5 of Schedule III of the CGST Act, 2017, outlines activities or transactions not considered as supply of goods or services, thus excluded from GST. The sale of land and completed buildings falls under this category, while sales before completion are taxable. Developed plots are treated as land sales and not taxed. However, leasing, licensing, or renting land and buildings are taxable. Clarifications state that developed land sales are non-taxable, but services for land development incur GST. Tenancy rights do not qualify as land sales. Leasing plots, as in the case of M/S Kedaram Trade Centre, is taxable at 18%.
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