vat liability on builders
This query is : Resolved
21 May 2009
i want to know that if a party is purchased land and constructed flat on these through a contractor and after that sold the flat to individuals. will there be any vat and service tax liability.
what will the case if he himself constructed the flat .
what will the case if he himself constructed the flat .
22 May 2009
It would be a sale of Immovable Porpperty and not liable for VAT since the same is being transferred after construction.
VAT seeks to tax the transfer of porperty involved in a WC.
VAT seeks to tax the transfer of porperty involved in a WC.
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