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Sales and Purchase of Commercial Property

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Sales and Purchase of Commercial Property

Post by bathu14 on Wed Mar 11, 2015 2:43 am

If I have signed an S&P for purchase of a commercial pty prior to 1 april 2015 and the S&P tenure expires after 1 april 2015 and balance of final payment is paid after 1 april 2015, do I have to pay GST? If so, do I only pay on the balance of final payment? Also, if the seller is not GST registered OR is an individual (not a business), then does this transaction get caught under GST? Does the transaction value of the pty under the S&P have any effect on whether the transaction is subject to GST?

bathu14

Posts : 9
Join date : 2015-03-11

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Re: Sales and Purchase of Commercial Property

Post by joseph on Wed Mar 11, 2015 2:46 pm

Customs' Panel Decision 4/2014 has a detailed explanation on this subject: http://gst.customs.gov.my/EN/RG/Pages/rg_fai.aspx.


_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

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Join date : 2014-09-25

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Re: Sales and Purchase of Commercial Property

Post by bathu14 on Wed Mar 11, 2015 8:45 pm

first two questions I asked is not addressed by 4/2014 whilst the third question is. Any suggestion?

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Re: Sales and Purchase of Commercial Property

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