Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India
13. Transfer of Land etc. by way of inheritance, testament, gift etc.
Clause 5 of Schedule III of CGST Act, 2017 as specified in Section 7 provides that Sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building would be treated as an activity or transactions which shall be treated neither as a supply of goods nor a supply of services.
Issue
Sale does not include transfer of land by way of will, inheritance, testament etc. Such transactions if kept out of the purview may create problems and confusion.
Suggestion
It is suggested that transfer of land by modes other than sale also be included as an activity or transactions which shall be treated neither as a supply of goods nor a supply of services.
Read ICAI Suggestions on GST Act to Govt : July 2017
Related Topic on GST
| Topic | Click Link |
| GST Acts | Central GST Act and States GST Acts |
| GST Rules | GST Rules |
| GST Forms | GST Forms |
| GST Rates | GST Rates |
| GST Notifications | GST Act Notifications |
| GST Circulars | GST Circulars |
| GST Judgments | GST Judgments |
| GST Press Release | GST Press Release |
| GST Books | Best Books on GST in India |
| GST Commentary | Topic wise Commentary on GST Act of India |
| GST You Tube Channel | TaxHeal You Tube Channel |
| GST Online Course | Join GST online Course |
| GST History | GST History and Background Material |