Mahavat
This query is : Resolved
15 January 2016
I m in construction business and completion of work is 45%.
now at this stage I m entered in sale agreement with new customer.
flat agreement cost 5500000 .
so I have charged vat on 55% of 5500000 ie 1% � 3025000 =30250.
is it correct according to maharashtra vat act.
19 January 2016
No.. I think 1% should be on full agreement value.
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