Is there any VAT applicable on Builders/Constructors from FY 2011-12 in Madhya Pradesh????Plz anyone clear it and if yes then what are its conditions and other complications?
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VAT ON MP BUILDERS
Replies (4)
Read from Page 4, sec 9B of attached file
| Originally posted by : U S Sharma | ||
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Read from Page 4, sec 9B of attached file |
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Thanx sir.It means whenever any bulder sale building for the first time ,which is bieng constructed by him,will pay 5% as vat on building sold.
But if an assessee is engaged in purchase and sale of buildings,shops etc which are already constructed then will he be liable for that 5%?
on subsequent sale not applicable, its already mentioned in the bill
Sir, is this VAT still applicable or waived now
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