Amounts received towards sale of share in flats will not attract GST, if paid after completion certificate: AAR

Karnataka’s Authority for Advance Ruling (AAR) has upheld that amounts received for sale of shares in flat will not attract Goods & Services Tax (GST) in case entire consideration is paid after issuance of completion certificate. This ruling has persuasive powers in matters related with sale and purchase of flats or building. Sometimes consideration is paid during construction phase while some…