Dear Sir,
You will have all the tax applicability as below :
a) Income Tax on your profit from sale
b) Service Tax on your sale Value
c) VAT on your sale value
hi i am a land developer based in mysore , we are basically only into plotting ie; we only sell residential plots what kind of tax will be implied on us what should i collect from the customers
Dear Sir,
You will have all the tax applicability as below :
a) Income Tax on your profit from sale
b) Service Tax on your sale Value
c) VAT on your sale value
what is percentage for both service tax and vat i need to charge
Sir,
If you are issuing bill to the client of Residential plot sale than Service Tax under works contract of 4.5% (30% of 15%) & VAT under works contact as per local law in gujarat it is 0.6% of total sale value.
hi,
Since the buying and selling of vacant plots does not come under the purview of the Service Tax provisions, as the transactions are selling of the immovable property, hence, the levy of service tax does not attract, however, if the assessees involving in the development of roads, culverts, lights etc. on such activities, the service tax has to be paid. As because, there is rendition of service to the customers.
VAt is applicable of sale of land.
Sir in your case service tax is applicable. service tax 3.75%. VAt regarding mysore we dont have any idea as governed by state tax
Hello Sir,
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