Sale of Units Post-First Occupation: GST Applies if Payment Made Before Completion Certificate Issuance Under Schedule II, Clause 5.

Sale of Units Post-First Occupation: GST Applies if Payment Made Before Completion Certificate Issuance Under Schedule II, Clause 5. https://www.taxtmi.com/highlights?id=52167 Classification of supply - sale / booking of units in a project after its first occupation and receipt of advance against that booking - If any part of the consideration is received before the date of issuance of completion certificate, then the transaction would be treated as a supply of service as per clause 5 of Schedule II to the GST Act, attracting the levy of GST - The first occupation as claimed by the applicant in the instant case, without having the mandatory completion certificate by the jurisdictional authorities is found to be devoid of any merit. - AAR en-us Thu, 05 Mar 2020 15:42:49 +0530 Thu, 05 Mar 2020 15:42:49 +0530 TaxTMI RSS Generator Sale of Units Post-First Occupation: GST Applies if Payment Made Before Completion Certificate Issuance Under Schedule II, Clause 5. https://www.taxtmi.com/highlights?id=52167 Classification of supply - sale / booking of units in a project after its first occupation and receipt of advance against that booking - If any part of the consideration is received before the date of issuance of completion certificate, then the transaction would be treated as a supply of service as per clause 5 of Schedule II to the GST Act, attracting the levy of GST - The first occupation as claimed by the applicant in the instant case, without having the mandatory completion certificate by the jurisdictional authorities is found to be devoid of any merit. - AAR Highlights GST Thu, 05 Mar 2020 15:42:49 +0530 https://www.taxtmi.com/highlights?id=52167