what is vat?
what is excise?
what is form c & d in sales tax?
Answer Posted / ashok
VAT IS A TYPE OF STATE GOVT TAX. IT HAS CHARGED VARIOUS RATE 4%, 5%, 12.5%. G
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I have a plot at Visakhapatnam. I have entered into a contract with a builder which enables him to construct 10 flats on the plot and builder and myself will share 50:50 of the constructed area. i.e. builder will get 5 and i will get 5 flats. Builder is not paying me any other consideration apart from 5 flats. Kindly clarify as to whether any servive tax is applicable and payable by me ?- kgr varma
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