Everyone is curious when GST is taxable? This is the answer..
For Commercial and Industrial Properties, if the following conditions are met, then it is GST taxable:-
1) The market value is more than 2 millions (comm or Ind)
2) If the seller is selling more than 2 properties(commercial or industrial properties) in his life, it is GST taxable
3) The seller is GST-Registered.
SOVO, SOFO or SOHO buyers, you are under this category (The usage and Development Order/planning approval is the deciding factor, not Title)
Login to PropSocial
Are you an agent? Sign Up Here
Not a Propsocial member? Sign Up
Sign Up with PropSocial
Already a Propsocial member? Login