VAT & other Taxes

Q: I'm the land owner we have entered into JD with a builder. Currently the project is in final stages of completion. We have sold only one unit for now, builder has sold 90% of his Units. Below are my Questions

Do I need to collect VAT from customers, if yes how much?(Builder says we landowners are not required to collect VAT from customers) need clarity on this.

Also what are the other service taxes that we have to collect from customers.

Please advice.

Regards,
Soma Shekar Reddy
Bangalore

Soma Shekar Reddy, Apartment Resident, Bangalore

20th July 2015

Property Tax in JP Nagar, Bangalore

vat & service tax on new apartment in bangalore

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Replies (1)

Hello Soma, First you have to check the agreement which was made between you and the builder. Because the VAT collection depends on the agreement made.