Whether Builders are coming under MVAT Act
This query is : Resolved
10 July 2010
While selling flat after construction should a builder charge MVAT on such sale??? please help its urgent
CA Umesh Sharma
(Expert)
10 July 2010
Dear,
The matter is under dispute. Please refer Rule 58 and Section 42 amendment on 1-4-2010.The Composition Scheme @ 1% is not yet issued. As per my opinion it should not, but Sales Tax Dept is of other view. So please keep it pending if possible, till the High Court cases are out, which has been filed in Div. Bench of Bombay High Court in Aurangabad. The decision of K,Raheja is also under review in Supreme Court Larger bench.
The matter is under dispute. Please refer Rule 58 and Section 42 amendment on 1-4-2010.The Composition Scheme @ 1% is not yet issued. As per my opinion it should not, but Sales Tax Dept is of other view. So please keep it pending if possible, till the High Court cases are out, which has been filed in Div. Bench of Bombay High Court in Aurangabad. The decision of K,Raheja is also under review in Supreme Court Larger bench.
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