Vat on resale flat

Sumit (Querist) 02 June 2015 This query is : Resolved
I have Purchase a flat from Owner in Resale and i m the third owner. Previous owner purchase it directly from builder on 2010. After Registry it was found that VAT was due on previous owner and even previous owner does not have any information about this VAT becuase he already have Registry of flat.. Please let me know is this VAT is mine liability or previous owner liability. what happen if previous owner denies

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C. SANJEEVA RAO (Expert) 02 June 2015
Flat is a immovable property, according to me, there is no VAT leviable on the immovable property. Only on the dealers who are engaged in the business of construction and selling of the flats. For detailed advice better consult your local VAT/Sales Tax consultant

Rajendra K Goyal (Expert) 03 June 2015
No VAT on ready-to-occupy flats if sale agreement is signed after issuance of completion certificate and VAT not applicable on land value.

According to a recent verdict by the Supreme Court, the sale of a property that is under construction would be liable to value-added tax (VAT).

H.M.Patnaik (Expert) 04 June 2015
In any case the VAT liability does not attract the second purchaser into its ambit in case second sale of flat.

T. Kalaiselvan, Advocate (Expert) 14 June 2015
You are not liable to pay VAT, if at all anything to be paid the same shall become the liability of the previous owner.

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