Contract with builder
This query is : Resolved
24 August 2012
Respected all guys,
we are an educational institute and now i have query regarding vat we construct one building for our college and builder raise a bill on us the bill amount is like under
net amount + vat = gross amount
now the problem is arising at the time of payment . the problem is our manager is said that when contract is made there is no clause regarding vat payment so we can not pay vat to him but builder said though it is not mentioned in contract it is statutory due
and he already paid vat in government treasury of that bills
so guys what is the solution is it necessary to mention in contract that vat is payable and what can i do now paid the gross amount to builder or net amount
please help me out
thank you.
we are an educational institute and now i have query regarding vat we construct one building for our college and builder raise a bill on us the bill amount is like under
net amount + vat = gross amount
now the problem is arising at the time of payment . the problem is our manager is said that when contract is made there is no clause regarding vat payment so we can not pay vat to him but builder said though it is not mentioned in contract it is statutory due
and he already paid vat in government treasury of that bills
so guys what is the solution is it necessary to mention in contract that vat is payable and what can i do now paid the gross amount to builder or net amount
please help me out
thank you.
CA. Vikash Dwivedi
(Expert)
24 August 2012
Read below article it will clarify all your doubts
https://www.caclubindia.com/articles/service-tax-and-vat-on-under-construction-flat-unit-14745.asp
https://www.caclubindia.com/articles/service-tax-and-vat-on-under-construction-flat-unit-14745.asp
04 September 2012
i read the article sir but my query is different the query is if it is not mentioned in contract then what is the solution vat is still payable or not.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
