The CBIC clarifies effective tax rate on complex, building, flat etc

[FoujiyaParticipant]

The CBIC has come out with a press release that clarifies the effective tax rate applicable to complex, building, flats and the like. It has notified that there is no GST on the sale of any complex or building or any ready to move-in flats where sales take place after the issue of completion certificate by the competent authority.
However, GST is applicable on sale of under-construction property or ready to move-in flats where completion certificate has not been issued at the time of sale.
Read More at: http://bit.ly/2LfQLsC

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