Dear Experts,
Generally VAT is applicable on Sale of property under Construction but regarding applicability of VAT on Sale of Completed Flat by the Builder, is VAT applicable on the same?
Could there be an argument that the sale of the immovable property (completed flat) is in the normal course of business therefore builder is allowed to collect VAT on the sale of completed Flat and remit the same to the revenue?
Generally the buyers are not ready to pay VAT on completed Flats.
Please kindly suggest with relevant sections and Case laws.
CAclubindia
