Purchase of flat without any GST involving a bi-party agreement

I am buying a flat from a landowner share and the owner is telling me that I don't have to pay any GST or Service tax on the purchase. Is this correct? Also, the agreement will be a bi-party one between the owner and me without any builder involvement. What legal implications or drawbacks should I consider with such a deal? The property is around 99% complete and should be ready to move in in another 2 months. Completion and OC certificate is pending.

Answers (1)

Purchase of flat required GST rate12% ,bi-party agreement can be done , but it is not a sale deed. In purchase GST 12% applicable. In future other taxes like stamp duty etc. may be levied as per government planning.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular GST Lawyers

Advocate Bala Janaki
330 Thambuchetty Street, Chennai
34 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
16 years Experience
Advocate Dr.Gubbi S Subba Rao
K G Road, Bangalore
33 years Experience
Advocate Deepak Gandhi
Karkardooma Court, Delhi
4 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the GST Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.

Related Articles

"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Similar questions

I want to get a GSTIN and for that i need to have a proof of business place for sole proprietorship , In my case i want to start a business from my ho…

Read More

I had paid 53100 to a coaching class. Subsequently due to changes in T&C I applied for refund. They refunded 45000. They deducted 8100 as gst amou…

Read More

I am the owner of a small business. How will GST benefit me?…

Read More

Sir/Madam, by mistake I submitted GSTR-3B return for September'17 where ITC put wrongly zero but I have ITC more than tax liability value. I have …

Read More

Talk to a lawyer for your legal issue