VAT @1% on sale of flat
This query is : Resolved
Parag Patki
(Querist)
06 April 2010
What will be the status of Promoters and Builders with respect to composite tax of 1% on sale of flats? Whether we have to get register and start collecting and paying tax or it dose not apply to sale of immoveable properties?
CA. O.P. Agarwalla
(Expert)
19 April 2010
There can not be any VAT on sale of Flat as such unless and otherwise there is a works contract.
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