I owned a plot of 10000 sq. ft. in the year 2012. In the same year, I entered into contract with ...
I owned a plot of 10000 sq. ft. in the year 2012. In the same year, I entered into contract with Jethalal Builder and Sons. The terms were simple, they would build residential flats on my land, and I would give them 6000 sq. ft. of land, keeping the rest 4000 sq. ft. to myself.
The construction was finally completed in May, 2018 and the Certificate of Completion was issued for the flats.
But the builder says that I have to collect and deposit GST if I sell my proportion of flat to outsiders. But I have learned that after issue of Certificate of completion, the flats cease to be supply of goods of services hence outside the purview of GST.
I want to sell my share of the property. Should I pay GST to the Builder? Should I collect GST on sale of those flats owned by him from the buyer? Please advice.