| Discussions Forum | ||||
Home  Forum VAT + CST This
|
||||
| A Public Forum. Anyone can participate to share knowledge. |
||||
|---|---|---|---|---|
| We acknowledge the contributions of Experts/ Authors. | ||||
Submit new Issue / Query |
||||
Builders/Devlopers, VAT + CST |
||||
|
||||
Builders/Devlopers |
||||
we have built up 29 flats in our own land 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 proceeds ( 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 a construction contract. Please guide us Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Kindly show them the definition of Goods as mentioned in the Sale of Goods Act as well as incorporated in the KVAT Act. 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 genuine.
what will be the position if flats are sold during construction stage under dvat act? Page: 1 Old Query - New Comments are closed. |
||||
