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Mahavat

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(Querist)
15 January 2016 I m in construction business and completion of work is 45%. now at this stage I m entered in sale agreement with new customer. flat agreement cost 5500000 . so I have charged vat on 55% of 5500000 ie 1% � 3025000 =30250. is it correct according to maharashtra vat act.
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Arun Biyani

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Arun Biyani (Expert)
19 January 2016 No.. I think 1% should be on full agreement value.
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