I bought a flat between 2006 and 2010 and liable to pay VAT to builder who has sent the bill after including MSEB and Society Formation charges.
Some one please urgently advise whether VAT is applicable on these?
AK Mangal
1 Replies
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 02 November 2012
Mr Manjal,
VAT is not required to be paid on electricity connection charges and society formation charges. Vat is to be paid on the construction cost only. The amount demanded from you by the builder also includes land cost (30% appx),which is not liable for VAT.Even charges made for club formation and other amenities are out of vat levy.......MJK
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