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Hi,
My friend is planning to buy a land owner's flat, in an apartment complex which is going to be complete in a few months.
He is demanding a VAT of 5%, along with Car Park(1.5L), BESCOM+BWWSSB(1.5L).

Can anyone tell me, if VAT is applicable only for Builder's flat or even for landowner's flat? If so, Is VAT 5% calculated on total flat cost or only basic cost?

Someone, please give the info.

Thanks,
Srini

Hi srini,
There are two versions in this case,is the flat registered by builder to you or land lord.
If it is builder selling to you on behalf of landlord share then by simple logic he need to collect VAT.If it is a second sale from the land lord then there is no need of VAT.You need to understand the deal and check with auditor.
(This just a suggestion ,please do check with auditors for exact details)

Credits to Mr.Venu - our in house tax specialist

Regards
Ar.Praveen.N
Ardes Architects and Interior Designers
ardesarchitects@gmail.com

Hi Praveen,

Could you please provide Venu contact details.

Thanks,
RK