Vat / service tax
This query is : Resolved
06 June 2012
A company has engaged Contractor for a Housing Project around 300 flats to be built.
- Flats are for sale and Booking already been started.
Ques : What will be the VAT and Service Tax implication ? I conclude :
- 4% Contractor VAT (for which TDS also needs to be deducted)
- 12.36% ST charged from Buyer at the time of actual Sale / allotment
- 13.56 % VAT charged on Works Contract from Buyer in lieu of Tax as discussed in K Raheja case and recently Emaar Commanwelath Case.
PL THROW LIGHT ON IT
- Flats are for sale and Booking already been started.
Ques : What will be the VAT and Service Tax implication ? I conclude :
- 4% Contractor VAT (for which TDS also needs to be deducted)
- 12.36% ST charged from Buyer at the time of actual Sale / allotment
- 13.56 % VAT charged on Works Contract from Buyer in lieu of Tax as discussed in K Raheja case and recently Emaar Commanwelath Case.
PL THROW LIGHT ON IT
19 July 2023
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