In case a person-
1. purchase old commercial building
2. demolish the building and reconstruct (3 floors)
3. one floor he kept for his own business and another 2 floors sold ( While constructing ) .
In this case, sale of two floors considered as capital gain.
What is the rate of GST applicable in this case? and whether ITC can be claimed?
Sir there will be no gst on sale of land and building
But gst will be levied on construction of building
Pls contact me for further details
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