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impact on builders

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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