Hello
Can any one tell me exact rate of MVAT payable on flat purchased in pune between 2006 to 2010???? with respect to recent changes and update of MVAT decissions
2 Replies
priya
(article)
(154 Points)
Replied 24 August 2012
there no specific rate specified in the notification it is based on what method you adopt.......
Kirit Premji Dedhia
(PRACTICE)
(45 Points)
Replied 26 August 2012
Agreements executed prior to 20.06.2006, Builder is not subject to VAT...
On Agreement registered after 20.06.2006 till 31.03.2010 , one can go for 5% Composition Scheme under section 42 of MVAT Act .....
W.e.f. 1/04/2010 , under a new composition scheme , one can pay 1% VAT on the agreement registered after 1.4.2010 subject to certain conditions.....
For detailed scheme , please refer to the relevant notification under the MVAT....
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