Vat on flats in bangalore

Hi,

Vat is applicable on sale of contruct value of the building and not on land as there is no vat on sale of land. Vat is also not applicable on BWSSB,KEB deposits.

Originally posted by : MAHENDRA KUMAR BAGRECHA
	Hi, Vat is applicable on sale of contruct value of the building and not on land as there is no vat on sale of land. Vat is also not applicable on BWSSB,KEB deposits.

Thanks for reply Sir.

First point is not little clear i.e. how to find/calculate 'construct value' of the flat. If the builder is selling a flat at 2400psf. then, will the construct value of flat is be less or same? say area is 1400 Sq ft. then VAT will be applicable for amount 1400X2400 =33,60,000 or on less amount how to calculate that. ?

Second whether VAT is applicable for Car Parking and Amenities.?

Thank you.