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VAT @1% on sale of flat

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(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?
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CA. O.P. Agarwalla

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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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