we r in real estate and registered in partnership firm act doing redovelopment of old building .
when redovelopment has been completed then we sale flat
vat is aplicable on sold flat amount or not
if yes then what is the rate
currently we have no TIN no.
VAT is not applicable on immovable property. However you will have to pay Works Contract Tax.
We are in the process of selling our property and have been told that the outbuildings which we converted to Gites are liable to VAT,
SSGS and Associates
Chennai
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
