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Vat

Tax queries 323 views 2 replies

Dear Sir,

 

I want to know that if an individual person taking property in Telangana State, on Development from its lawful owner/s, and after development of the property, he wants to sell his share in shape of Flats, then VAT is applicable or not, it is clear that the Developer of the property is an individual person, not the company/firm.

Replies (2)
Vat applicable only on material cost Most of the bldrs pay compounding tax @ 2 precent vat please Development of land and flat construction cost attracts as a labour chgs and service tax applicable please P.R.Ganesh
Vat applicable only on material cost Most of the bldrs pay compounding tax @ 2 precent vat please Development of land and flat construction cost attracts as a labour chgs and service tax applicable please P.R.Ganesh


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