LIVE Course on Transfer Property Law | Price Hike in 4 days | Grab it now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Harsh (Manager)     12 August 2016

Vat and service tax for landowner

Sir,

I had a question about VAT and Service tax liability for the landlords in a Joint Development agreement with a developer. Once the flats are delivered to the landowner, if the landlord sells any flat (complete and ready to move), what VAT and Service Tax liability does the landowner have?

Ex: Total Land Value 50 L, 2 Flats (same size etc.). If the landlord sells one flat at 30L (base price), what would be the taxes? Assume that the Undivided share (land) for this flat is worth 10L

thanks,
Harsh



Learning

 1 Replies

adv.bharat @ PUNE (Lawyer)     13 August 2016

U need to pay service tax @8.5% on sale consideration.

VAT as per state directive.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading
Start a New Discussion Unreplied Threads



Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query