MJ Krishnamurthy's Expert Profile

Queries Replied : 1703

About me

I am a retired Assistant Commisioner of Commercial Taxes of Karnataka. I retired in 1998 at the age of 58.During this service I tried to go in detail about sales tax laws. Immeadiately after retirement some companies wanted to retain me as their consultant. That is how my touch with the subject of VAT laws continued.The website of CAclub india is giving a good opportunity to share my knowledge with others. I am an exserviceman from IAF. So, Iam a little different from other taxmen. We should do some service to the community that has offered us so much, That is my purpose.....Bye.

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prasad says : advice on service tax on property
Dear Mr. Krishnamurthy, Thanks for your reply on vat.I have query regarding applicable Service tax on property. I have purchased flat in Pune, Maharashtra. Agreement was executed in July 2010 and I got the possession in 2011. Can you please tell me the applicable service tax rates for me? Builder is telling I have to pay Service tax by new increased rate(I think it is 3.6%). Please advise.

MJ Krishnamurthy says : e-sugam
It is better to quote the value of goods being carried in each vehicle and along with you may attach a copy of the invoice for each vehicle.

GOPALAKRISHNA.K says : E SUGAM
DEAR SIR, IF WE TRANSORT MATERIAL OF SINGLE INVOICE IN MORE THAN ONE VEHICLE WE HAVE TO GENERATE MORE THAN ONE E SUGAM. IN THIS CASE WHAT VALUE TO PUT IN EACH E SUGAM WHETHER FULL VALUE OF INVOICE OR INV VALUE HAS TO SPLIT IN TO ?

MJ Krishnamurthy says : VAT liability on flats
Mr Gerald Q, On this point the honourable SC of India has given its judgment,in M/s Raheja builders and other cases.As per their ruling evn if Re1/- is paid by a buyer of flat before its completion that transaction completely becomes a works contract,which means that the entire material used for construction becomes liable for VAT. If you buy a flat after the construction is over then it is fully exempt from VAT,because you will be purchasing an immovable property. .....MJK

GERALD QUADRAS says : VAT on Apartments
But I feel this is unjust since VAT is not applicable on completed property. Similarly VAT should not be applicable on part completed property i.e. on the portion which has been completed, since that portion was with the buildder till the contract was signed and it is already immovable. I have no issue on VAT being charged on the portion that is not completed. What do you feel?. Is it justified to charge VAT on the full property. This is my view.