Vat on sale of plot or land by developer
Querist : Anonymous
What is a liability of VAT on sales of Plot or land by a Developer to the Consumer?
when OC received then it become immovable property
Vat is levied on advances received from customer till OC is received
Querist : Anonymous
one more question, builder is in two separate contract with the customer.
1.Agreement of Sale of Land (where Stamp duty is paid). And
2. Agreement of Construction of Bunglow on the same land.
whether VAT is applicable on both the deals and what will be the rate of VAT?
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