26 October 2015
I am purchasing one flat at Mumbai, I have paid some advances against purchase of flat but Registration is still pending.
The builder has obtained OC during Jan, 15, (advances were paid before OC & after OC).
The members of the building had already formed the C H S. I have also contributed the membership contribution of the society.
Now we are entering into agreement, whether Vat & Service Tax is applicable in my case as agreement is being executed after obtaining OC & formation of CHS.
I solicite your expert opinion to enable me to proceed further.
26 October 2015
Thank You Sir for your reply but Can you please elaborate the reason for the same in details. Indeed I will be very grateful to you Sir.
26 October 2015
In case where construction agreement is signed vat and service tax payable. In case of out right purchase after completion certificate no vat and service tax applicable.
26 October 2015
No agreement were signed at the time of payment of advances, merely advances were paid by cheques & builder has also shown payment as advances in his a/cs.
26 October 2015
Search google you will find it. I am not allowed to paste the link here. Still you want it send me private message there I can paste the link.
CAclubindia
