Vat on builders

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2012 One of our client(Construction Contractor of Maharashtra) sold flats BEFORE 01.04.2010.

Is this transaction liable for MVAT levy?
If yes then how?

Kindly provide me the detailed explanation.

Thanks & Regards.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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04 June 2012 Mr Author,
There have been enough discussio on this subject in this web site already.If he had received advances from his buyers before completion of construction MVAT liability arises in such cases.If he has sold any apartment after finishing their work,then there will be no MVAT on them....MJK

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