According to the sources available to www.propertykhazana.com, for the construction materials Property developers are paying an extra tax on their buildings, on top of the funds they are paying to the builders to grasp the land, says the SC. The least VAT on construction material is at 4% and still the price might rise or reduce from State to State. The decision has already been followed by the Maharashtra in a circular which was issued on Friday 7th 2007. The entire construction materials and values of construction in advance booking ventures will be liable to VAT and it also comprises the deals that head construction with the display effect from June 20th 2006. The circular will go after the SC counter upholding its judgment in court case among K. Rahejas Development Corporation against Govt. of Karnataka. Rahejas has come into a deal with Karnataka to take up construction of housing and commercial in the state.
Maharashtra circular holds up SC’s judgment that advance booking should come under the group of work agreement. Specialists from the circular said the www.propertykhazana.com that, “Any contract carrying out, whichever for cash, for the late payment or for any other expensive consideration, the building and construction of any portable or immoveable land”, which inquires the builders to pay work agreement tax if they sell residences before finishing the construction. So far, builders were paying VAT on real rate of the construction by the contractor, as per to the new policy by the Supreme Court is they have to pay the tax on construction material as on previous auction rate to the purchaser.
Source: NIMMA BENGALURU
Apartments, Flats and Property for Sale in New Delhi
Aug 01, 2015
Victorian Corporation is offering 2 bhk flat in Dwarka L Zone Delhi in its new residential project Victorian Privilege. The project is located in..
Jun 11, 2014
Antriksh Group launches a world class famous residential project of Antriksh Golf City noida. Types :Apartment, 2BHK, 3BHK Sizes :1050 - 1665 sq..
Apr 11, 2014
Well located apartment available for sale with all the modern amenities like power-backup, intercom, 24 hours security with CCTV surveillance,..
Mar 15, 2014
3 Bhk apartment for sale in rohini ........Please contact for more..
Mar 12, 2014
Available 1st and ground floor for sale at reasonable price,2+1 with 1 attached toilet,white marble flooring,modular kitchen,very near to main..
Feb 22, 2014
3 bhk apartment for sale in rohini delhi north.....please contact for more..
Feb 22, 2014
3 bhk apartment for sale is available in delhi north ..........please contact for more..
Feb 11, 2014
When you want to create a fresh perspective for your life, this is the best real estate option for you and your family. A self sufficient township..
Feb 10, 2014
Corner,200 yards (1800 sq Ft covered area),Freehold property,located in commercial road,in LAJPAT NAGAR-1, New Delhi.Three side balcony,3 Big Bed..
Dec 07, 2013
House is a building for human habitat on. It is one of the basic needs for many people, owning a home brings a sense of pride freedom that cannot..
Apartments, Flats and Property for Rent in New Delhi
Oct 10, 2016
Luxurious PG Accommodation for Studying and Working girls & Boys in Amity University Noida Sector 125. we have provided washing Machine,..
Jul 19, 2016
For Rent New Friends Colony, Newly Built Second Floor 3 Bedrooms attached bathrooms, Drawing-Dining, Modular Kitchen, Excellent Wood work, Car..
Jan 14, 2016
For Rent at New Friends Colony, Nicely Built Third Floor 3 Bedrooms Attached Bathrooms, Drawing, Dining, Modular Kitchen, Car Parking, Woodwork,..
Jan 14, 2016
FOR RENT DEFENCE COLONY NEWLY BUILT SECOND FLOOR 4 BEDROOMS ATTACHED BATHROOMS, DRAWING, DINING, MODULAR KITCHEN, CAR PARKING, LIFT, S.Q. RENT..
Jan 06, 2016
FOR RENT DEFENCE COLONY NEWLY BUILT SECOND FLOOR 4 BEDROOMS ATTACHED BATHROOMS, DRAWING, DINING, MODULAR KITCHEN, CAR PARKING, LIFT, RENT..
Mar 12, 2014
Available 1st floor on rent in affordable price,2+1 with 1 attached toilet,white marble flooring,modular kitchen,nice location,very near to main..
Feb 25, 2014
Fully furnished 1 room with attached bathroom surrounding by green..
Jan 04, 2014
We offer our 3 BHK furnished apartment in defence colony. Apartment has three bedrooms with attached bathrooms. It has a modular kitchen which is..
Jun 05, 2013
1 ROOM SET, 1 BHK AND 2 BHK FULLY - FUNISHED are available for Rent in New Delhi at VASANT..