Builders/Devlopers

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..... Builders/Devlopers
Query (Issue) Started By: - ishwar hegde Dated:- 25-3-2012 Last Reply Date:- 27-3-2012 VAT + CST
Got 2 Replies
VAT / Sales Tax
we have built up 29 flats in our own lan .....

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..... d with our own funds. We want to sell 20 flats to the purchasers and keep 2 for our own use and remaining are given on rent bases Now Karnataka VAT dept claims that we should pay 14% VAT on sale proce .....

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..... eds ( that too on market price and not on registration value). We contested that it does not covered under vat because it is sale of immuvable property and not asale of goos and nither it falls under .....

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..... a construction contract. Please guide us Reply By Pradeep Khatri: The Reply: Kindly show them the definition of Goods as mentioned in the Sale of Goods Act as well as incorporated in the KVAT Act. .....

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..... Most probably, KVAT Authorities must be asking the payment of WCT on the entire contract amount. Please discuss this aspect with you VAT consultant. To this extent the views of the Department look gen .....

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..... uine. Reply By puneet mittal: The Reply: what will be the position if flats are sold during construction stage under dvat act?
Discussion Forum - Knowledge Sharing .....

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