Vat on sale of plot or land by developer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 April 2015
Dear Expert,
What is a liability of VAT on sales of Plot or land by a Developer to the Consumer?
What is a liability of VAT on sales of Plot or land by a Developer to the Consumer?
16 April 2015
Vat not applicable on immovable property
when OC received then it become immovable property
Vat is levied on advances received from customer till OC is received
when OC received then it become immovable property
Vat is levied on advances received from customer till OC is received
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 April 2015
Thank u sir,
one more question, builder is in two separate contract with the customer.
1.Agreement of Sale of Land (where Stamp duty is paid). And
2. Agreement of Construction of Bunglow on the same land.
whether VAT is applicable on both the deals and what will be the rate of VAT?
one more question, builder is in two separate contract with the customer.
1.Agreement of Sale of Land (where Stamp duty is paid). And
2. Agreement of Construction of Bunglow on the same land.
whether VAT is applicable on both the deals and what will be the rate of VAT?
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