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impact of end users

Cf 4

‘Works contract’- VAT on property under construction

VAT is applicable on works contract. So according to supreme court, VAT is applicable on building contracts and property under construction. In a building contract where the land owner gives the land to the builder for construction and in return gets a portion of the developed property, then it comes under a work contract. Then […]

sannihith.tn

VAT

Supreme Court favors imposition of VAT on under-construction properties

Homebuyers who had not paid value added tax (VAT) while buying under-construction properties, may now have to bear the additional costs. In Larsen & Toubro case, the Supreme Court has supported the constitutional validity of VAT being imposed by the state governments on the sale of under-construction flats. The apex court has clarified that the […]

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