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(Querist)
09 March 2009 we purchase land from DDA and construct commercial complex. we accept advance money for booking of shops.
Is there any liability to pay wct or vat on selling of those shops?
we purchase land and construct own building and then sell them.
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CA. MITHUN KHATRY

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CA. MITHUN KHATRY (Expert)
10 March 2009 SUPREME COURT IN K RAHEJA DEVELOPMENT CORPORATION VS. STATE OF KARNATAKA HELD THAT :

IF BUILDER ENTERS AN AGREEMENT WITH PROSPECTIVE PURCHASER BEFORE COMPLETION OF BUILDING THEN IT IS CHARGEABLE UNDRE WCT.

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