Nagpur: Even as completed properties for which an occupancy certificate has been secured from a municipal body are exempted from GST , a section of builders continue to levy tax on it. However, officials in erstwhile service tax department now in-charge of GST told TOI, the tax will only apply to amount paid for flats under construction. "If a person buys a ready to move in flat, GST is not applicable. The builder had constructed the flat at the site in New Narendra Nagar before GST had set in. In my opinion, GST is applicable on the entire building in such a case," he said.An officer handing GST in erstwhile service tax department, however, said it is clear that ready units with occupancy certificate cannot be taxed.

Source: Economic Times August 07, 2017 05:21 UTC