Is there any VAT applicable on Builders/Constructors from FY 2011-12 in Madhya Pradesh????Plz anyone clear it and if yes then what are its conditions and other complications?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 12 May 2011
Read from Page 4, sec 9B of attached file
XYZ.....
(-)
(516 Points)
Replied 13 May 2011
| Originally posted by : U S Sharma | ||
 |
Read from Page 4, sec 9B of attached file |
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Thanx sir.It means whenever any bulder sale building for the first time ,which is bieng constructed by him,will pay 5% as vat on building sold.
But if an assessee is engaged in purchase and sale of buildings,shops etc which are already constructed then will he be liable for that 5%?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 13 May 2011
on subsequent sale not applicable, its already mentioned in the bill
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