Mr. A owns a first floor flat in a plot on which ground floor , first floor and second floor is constructed. The ground and the second floor is with Mr. B. Mr. A and B enter into a collaboration agreement with a builder. As per this collaboration Mr. A is to get the newly made first floor and then some cash. The building is under construction presently. Mr. A wants to sell the first floor to Mr. C. Kindly confirm whether any service tax or vat is payable by Mr. C. The entire consideration for the flat is made by Mr. C to Mr. A and nothing is paid to the builder.
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