Gst rate for new constructed house

S M pasha (Querist) 16 January 2021 This query is : Resolved
Sir,
If a builder constructing a new house and selling the same after fulfill consturction work what will be the GST Rate ? How can avail ITC ?

Please explain

with Regards

S M Basha

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Guest (Expert) 17 January 2021
GST would be applicable in Supply of Goods or Services made for an Consideration in the course of furtherance business. Therefore transaction of an personal asset is out side the ambit of GST. Discuss in detail with an Local Chartered Accountant.

kavksatyanarayana (Expert) 18 January 2021
To my best known, construction properties shall come within the ambit of GST. Once construction is completed and completion certificate is obtained or occupancy happens, an apartment falls out of the ambit of GST