Sale of house
This query is : Resolved
14 November 2015
Hi sir,
As we know that when a contractor builds a building then VAT is imposed ie he charges VAT from contractee (sale under works contract) and the contractee deducts WCT from the total amount of bill and makes balance payment to contractor...
I want to ask that as per VAT act works contract means "contract for carrying out for cash any construction etc" so I want to ask that construction here means building?..
I mean for eg if today I get my house constructed and I sale it then will I charge VAT from the person who purchases it?
Or the person who constructed my house will charge VAT from me?..
It will be very helpful on your part if you can help me with the same..
14 November 2015
VAT is applicable only on sale under works contract. No VAT applicable if you sell the house to another person. VAT is applicable only under construction stage.
14 November 2015
Sir so finally if I have a vacant land and i construct a house on it.... Then sale it to another person.... Then no VAT will be applicable when i sale it to other person?
But VAT will be charged in the bill of person who constructed my house...?
15 November 2015
Yes you are right........
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