X co is developing the non agricultural land in to NA land and developing as residential plots by paying development chargess to the corporation. The co is spending for the road formation, drainage work, electricity polls and other development works. After complete this development work the co is selling the residential sites to the prospective buyers. Is there any tax liability for the co to pay under the VAT Act on the sale of sites or the development of sites? Is co is liable to pay works contract tax?
