Vat of sale of buidling

VAT is applicable on sale of goods .

Goods means any moveable property . 

Hence MVAT is applicable on sale of fixed assets.

If land & building is sold then ?????????

If a company has sold its own building purchased during the year then what are the vat implications???? The company is not the builder.

if property is ready(CONSTURCTION FINISHED) then VAT will be applicable.

If Property under construction and payment received in installment then NO VAT will be applicable.

Mr.Harish i have stated earlier that the co. is not a construction one it has purchased a flat during the year and has sold the same.

Dear Parul Saxena

I think i answered your query ???

can you please give any provision or circular in this regard that vat is not applicable on sale of building

you thinks only one side.

someone in this post said land is immovable.

there is a no specific provision under MVAT but u have to follow service tax rule, under that rule it is specific given that i had told u.

you will not apply for lumsump scheme for this VAT.

if u buy properties then VAT paid and sold then VAT collect after effect that u have to remining amout to government.

CA Parul Saxena 
Pls find attached file it may usefull to you