Rajesh Joshi (CFO) (48 Points)
05 October 2010we r in real estate and registered in partnership firm act doing redovelopment of old building .
when redovelopment has been completed then we sale flat
vat is aplicable on sold flat amount or not
if yes then what is the rate
currently we have no TIN no.
SANJAY THAKOR
(MANAGER-FINANCE)
(68 Points)
Replied 24 October 2010
VAT is not applicable on immovable property. However you will have to pay Works Contract Tax.
ltm0807
(kjklaj kfl)
(21 Points)
Replied 28 October 2010
We are in the process of selling our property and have been told that the outbuildings which we converted to Gites are liable to VAT,
CAclubindia
