GST Liability on Builder under new scheme 5% after obtaining OC

No GST needs to be paid if the completion certificate has been received and no payment made before that.

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Thank you

HI

NO need to pay because completion certificate has not been received 

Dear Sir,

Hope you are doing well !!

Per Section 7 read with Schedule II of the Central Goods and Services Tax Act, 2017,

“The construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier shall be treated as Supply of Service”

Once the flat is constructed and occupancy certificate is issued, the said flat is considered as Immovable Property and no GST will be levied on sale of such flat.

Hello,

If the completion certificate has been received and no payment for the flat was made before the date of the completion certificate, then no GST is leviable.

I hope this answer satisfies your requirements. 

Regards,

CA Hunny Badlani

Dear Sir,

Once occupancy certificate is issued for a project, no gst is applicable on it. If some amount has already been paid before the receipt of oc, then gst would be applicable on it.

Thanks & Regards

Shiv Kumar Agarwal