Results for #VAT

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Answered on November 08, 2017
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  • In Maharashtra, VAT on sale of underconstructed property brought into effect from June 2006. Hence, builder would be liable to pay VAT on agreement to sale effected in June 2008. There are various methods for arriving at the taxable value of transfer of property in goods during construction. Libality to pay VAT by flat buyer to the builder would be dependent on the contractual arrangement betw...
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    Answered on November 08, 2017
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  • The Service Tax amount and VAT would depend on the market value of the flat/ agreement value and similarly the stamp duty would also depend on the ready reckoner value of the flat at the time of such purchase or the agreement value whichever is higher. Registration Fees is 1% of market value of flat or Rs.30,000/- whichever is lower.

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    Answered on November 08, 2017
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  • You can file a suit alongwith the other purchasers of the premises in the buildng for conveyance of the property or apply to the Competent Authority under the amended provisions of the Mahashtra Ownership of Flats Act for deemed conveyance of the property. In so far the demand of VAT made by the developer, the same appears to be time barred and in any event would depend on the terms of your Agr...
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    Answered on November 08, 2017
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  • In Maharashtra, VAT on sale of underconstructed property brought into effect from June 2006. Hence, builder would be liable to pay VAT on agreement to sale effected in Nov 2009. There are various methods for arriving at the taxable value of transfer of property in goods during construction. Liability to pay VAT by flat buyer to the builder would be dependent on the contractual arrangement betw...
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    Answered on November 08, 2017
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  • VAT would be payable by the builder on flats allotted to land owners. Subsequently when the land owner sells flats to third party, no VAT would be paybable by the land owner on such subsequent sale.

    Construction of a complex, building, civil structure etc intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certi...
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    Answered on November 08, 2017
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  • If the said property is your ancestral property then the same is a property of HUF and you are co-owner to the same. However, if it is property of your father in his individual capacity then the most cost effective way is to make a gift deed and thereby transfer partial ownership as the gift so received will not taxable under the provisions of the Income Tax Act. The Stamp duty and registr...
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