VAT on Construction

This query is : Resolved

GOPAL KUMAR AGRAWAL (Querist)
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28 May 2011 Whether VAT is applicable in case transaction is initiated before completion of construction & agreement is registered after the completion.

Sanjeev Kumar

Sanjeev Kumar (Expert)
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02 June 2011 please note for a valuable reply always refer State & full facts of the case.

i you have obtained composition scheme then u have to inform your AO at time booking a contract & liable to pay VAT on collection basis OR if not in composition scheme & paying VAT as normal dealer under Works Contract then u are liable to pay on sales value of material consumed in execution of WC