Is there any VAT applicable on Builders/Constructors from FY 2011-12 in Madhya Pradesh????Plz anyone clear it and if yes then what are its conditions and other complications?
Read from Page 4, sec 9B of attached file
Thanx sir.It means whenever any bulder sale building for the first time ,which is bieng constructed by him,will pay 5% as vat on building sold.
But if an assessee is engaged in purchase and sale of buildings,shops etc which are already constructed then will he be liable for that 5%?
on subsequent sale not applicable, its already mentioned in the bill
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