Selling Developed Land with Structures Is Taxable Under GST; Undeveloped Land Sales Are Exempt Per CGST Act, Schedule III.

Selling Developed Land with Structures Is Taxable Under GST; Undeveloped Land Sales Are Exempt Per CGST Act, Schedule III. https://www.taxtmi.com/highlights?id=60261 Levy of GST - activity of disposal of developed plots of land to allottee members - If the applicant sells the land after developing by way of erecting a civil structure or a building or a complex then such supply is liable to tax under CGST/SGST Acts. However if land is sold without any development involving any civil structure or building or complex such supply falls under paragraph 5 of schedule III to Section 7(2) of CGST Act, 2017 and hence is exempt from tax. - AAR en-us Tue, 26 Oct 2021 18:02:32 +0530 Tue, 26 Oct 2021 18:02:32 +0530 TaxTMI RSS Generator Selling Developed Land with Structures Is Taxable Under GST; Undeveloped Land Sales Are Exempt Per CGST Act, Schedule III. https://www.taxtmi.com/highlights?id=60261 Levy of GST - activity of disposal of developed plots of land to allottee members - If the applicant sells the land after developing by way of erecting a civil structure or a building or a complex then such supply is liable to tax under CGST/SGST Acts. However if land is sold without any development involving any civil structure or building or complex such supply falls under paragraph 5 of schedule III to Section 7(2) of CGST Act, 2017 and hence is exempt from tax. - AAR Highlights GST Tue, 26 Oct 2021 18:02:32 +0530 https://www.taxtmi.com/highlights?id=60261