If the entire consideration in respect of the transaction is received after submission of the completion certificate, the transaction shall not be treated as supply under GST in view of provisions contained in Paragraph 5 of Schedule III of the CGST Act, 2017.
Authority for Advance Ruling — Construction service – The applicant was established with the charter for policy advocacy in favour of housing and real estate. The applicant sought an advance ruling as to whether prior to 08.11.2019 the activity of sale of apartment would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after submission of completion certificate; whether prior to 08.11.2019 the activity of sale of apartment would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after expiry of 15 days from the date of submission of completion certificate; prior to 08.11.2019, what would be the date of completion of an apartment constructed; whether post 08.11.2019 the activity of sale of apartment undertaken by the applicant would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after submission of completion certificate; whether post 08.11.2019 the activity of sale of apartment undertaken by the applicant would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after expiry of 15 days from the date of submission of completion certificate; post 08.11.2019, what would be the date of completion of an apartment constructed.
Held that:- The Hon’ble Authority for Advance Ruling ruled out that if the entire consideration in respect of the transaction is received after submission of the completion certificate, the transaction shall not be treated as supply under GST in view of provisions contained in Paragraph 5 of Schedule III of the CGST Act, 2017. The date of issue of completion certificate for the purpose of clause (b) of Paragraph 5 of Schedule II of the Act shall be the date of issue of the completion certificate.
If the entire consideration in respect of the transaction is received after submission of the completion certificate, the transaction shall not be treated as supply under GST in view of provisions contained in Paragraph 5 of Schedule III of the CGST Act, 2017.
Authority for Advance Ruling — Construction service – The applicant was established with the charter for policy advocacy in favour of housing and real estate. The applicant sought an advance ruling as to whether prior to 08.11.2019 the activity of sale of apartment would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after submission of completion certificate; whether prior to 08.11.2019 the activity of sale of apartment would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after expiry of 15 days from the date of submission of completion certificate; prior to 08.11.2019, what would be the date of completion of an apartment constructed; whether post 08.11.2019 the activity of sale of apartment undertaken by the applicant would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after submission of completion certificate; whether post 08.11.2019 the activity of sale of apartment undertaken by the applicant would be treated a supply to determine GST liability, if the entire consideration towards said sale is received from the customer after expiry of 15 days from the date of submission of completion certificate; post 08.11.2019, what would be the date of completion of an apartment constructed.
Held that:- The Hon’ble Authority for Advance Ruling ruled out that if the entire consideration in respect of the transaction is received after submission of the completion certificate, the transaction shall not be treated as supply under GST in view of provisions contained in Paragraph 5 of Schedule III of the CGST Act, 2017. The date of issue of completion certificate for the purpose of clause (b) of Paragraph 5 of Schedule II of the Act shall be the date of issue of the completion certificate.