31 August 2012
Sir, I have purchase flat in 2011 at Mumbai, construction completed in 2011, ready possession with occupation certificate. is there Vat is applicable?
01 September 2012
If the flat is sold by the builder after OC is received (ready possession), then vat is not leviable on same. Vat is only leviable when the flat is booked at the time of construction.
CAclubindia
