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In my clients books factory building is there of Rs. 500000 , if he sells that building whether gst will be applicable?

In my clients books factory building is there of Rs. 500000 , if he sells that building whether gst will be applicable?

Reply—As per Para 5 of schedule III of CGST Act, "Sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of Building" shall not be treated as supply of goods or service. Therefore, no GST is applicable on sale of land and Building.

Posted Date: Feb 01, 2021
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