Vat on builders
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 June 2012
One of our client(Construction Contractor of Maharashtra) sold flats BEFORE 01.04.2010.
Is this transaction liable for MVAT levy?
If yes then how?
Kindly provide me the detailed explanation.
Thanks & Regards.
Is this transaction liable for MVAT levy?
If yes then how?
Kindly provide me the detailed explanation.
Thanks & Regards.
MJ Krishnamurthy
(Expert)
04 June 2012
Mr Author,
There have been enough discussio on this subject in this web site already.If he had received advances from his buyers before completion of construction MVAT liability arises in such cases.If he has sold any apartment after finishing their work,then there will be no MVAT on them....MJK
There have been enough discussio on this subject in this web site already.If he had received advances from his buyers before completion of construction MVAT liability arises in such cases.If he has sold any apartment after finishing their work,then there will be no MVAT on them....MJK
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