Vat

This query is : Resolved 
 

Online (Querist)
27 December 2013

We bought commercial shop under construction in a mall in New Mumbai. It was booked in July 2009 and handed over in April 2010.

We are reselling it now. Developer is charging VAT @ 3.67% on resell price.

My question is that who has to bear VAT if it is applicable on resell?
What percentage and where it has to be paid?
Developer is demanding cheque in its name.
Which provision of law applies?


M V GuptaOnline (Expert)
27 December 2013

VAT does not apply to sale of a completed construction.

ajay sethiOnline (Expert)
28 December 2013

agree with Mr gupta

ShakeelOnline (Querist)
29 December 2013

I would like to get some print material with provisions of law to convince builder as they are demanding VAT saying that others have been paying.

Devajyoti BarmanOnline (Expert)
29 December 2013

The take help of a local advocate/CA.



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