Dear all,
I handed over my site to a builder for development purpose. (The site at Guntur, Andhra Pradesh). In return of the same, I will get 4 flats as my share. Now my question is, am I have to pay VAT or Salestax?. If so , then how much % and how to calculate. Because I want to retain all 4 flats for my own purpose. Please clarify me at the earliest.
Thanks in advance.
VAT is not applicable here but Works contract tax will be payable
Dear Atir,
Thanks for the prompt reply. But what is Works contract tax? How to compute it? On what basis ? and when it payable? after completion of apartments or at the starting stage? please clarify.
Thanks
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