M -vat & service tax on flat sale
This query is : Resolved
05 July 2013
our co constructing residential building ... if flat sold before receiving the occupancy certificate law say the mvat and service tax chargeable and if sold after Receivng the occupancy certificate law restict to charge Mvat and service tax .... what is the logic beyond that .....please explain
05 July 2013
In case of construction, it is explained that when the construction is going on and you approach the builder for purchase of flat and enter into agreement of flat, from that time that the flat becomes yours and the builder is providing the service of completing construction for you. Nature of transaction, as explained, changes from being builder to works contractor.
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