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Vat on resale of commercial property

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 April 2012 Friends,

We have sold a commercial property in Mumbai.

Is there any VAT payable?
I understand that VAT on immovable property is payable @ 1% in case of propery under construction purhcase agreement with builder/developer.

So in my view, VAT is not applicable to resale of property transaction.
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
10 April 2012 Mr Author,
There will be no VAT on sale of any immovable property.

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