VAT on Construction
This query is : Resolved
28 May 2011
Whether VAT is applicable in case transaction is initiated before completion of construction & agreement is registered after the completion.
02 June 2011
please note for a valuable reply always refer State & full facts of the case.
i you have obtained composition scheme then u have to inform your AO at time booking a contract & liable to pay VAT on collection basis OR if not in composition scheme & paying VAT as normal dealer under Works Contract then u are liable to pay on sales value of material consumed in execution of WC
i you have obtained composition scheme then u have to inform your AO at time booking a contract & liable to pay VAT on collection basis OR if not in composition scheme & paying VAT as normal dealer under Works Contract then u are liable to pay on sales value of material consumed in execution of WC
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