GST on sale of right in underconstructed flat by an agent

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....ST on sale of right in underconstructed flat by an agent <br> Query (Issue) Started By: - NAMAN DOKANIA Dated:- 31-7-2025 Goods and Services Tax - GST <br> Got 4 Replies <br> GST<br> <br> An agent, a Pvt Ltd company, does the business of purchase & sale of underconstructed flat. He gave advance for the underconstructed flat for say Rs. 80 lakhs, and after 10 months sold his right for Rs. 110 Lakhs....

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..... Will GST be leiveid under the same? if yes, then what will be HSN/SAC/Rate . If any provision/circular is quoted, that woudl be of much help, with explanation thereof. --Reply By: Sadanand Bulbule The Reply: in the situaion explained by you, the specific role of agent is to be determined. If he is merely acting as a broker, then the commission amount earned is liable to tax @ 18% under SAC 99....

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....71, Real Estate Agent Services. But this is not your case. Here it is trading of unconstructed flat on own account. Refer Section 7[1][a] of the CGST Act and Notification No.11/2017-Central Tax (Rate). Since there is no specific circular on such transactions, seek an advance ruling. --- Sub-Reply By: KASTURI SETHI The Sub-Reply: Dear Querist, Such transaction is taxable. Consideration stands re....

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....ceived prior to the issuance of Completion Certificate or First Occupation. Not covered under Exclusion clause no. 5(b) of Schedule-II&nbsp; &nbsp; I&nbsp; fully concur with the views of Sh.Sadanand Bulbule, Sir.&nbsp; --Reply By: Shilpi Jain The Reply: If you are not entering into any agreement of sale then you can pay GST on the margin earned or the so called commission. If not then there is ....

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....a risk of GST @5% on the unit sold on entire 1.1 crs --Reply By: NAMAN DOKANIA The Reply: Shilpi Madam,   Will they be allowed to take ITC of 5% charged by the builder to them while paying the output tax in the above case? <br>***<br> Discussion Forum - Knowledge Sharing....