SUNIL Panda (AM) 17 May 2013
I have booked a flat in 2010 at Chennai costing around 40lac. The builder is planning to handover the flat now and asked to pay approx. 86K as VAT security deposit. Can any body clarify whether VAT is applicable in TN/Chennai and was there any VAT notification from TN Govt. What is the rate of VAT chargeable on what basis?
Rajeshmohan (PROPRIETOR) 08 July 2013
I have started a partnership company with my wife and promoting flats in 8 blocks and in each block 6 flats. I have registered with Service Tax and proposed to pay S.T @12.36% against 25%of Gross Receipt(including land cost). Is there any other tax is payable. Is VAT applicable. If so what I have to do. Kindly advice me
Krishna -Chennai, Tamilnadu
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