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By Pradeep S. Shah & Mukesh J Bhavsar I. PRELIMINARY The Commissioner of Sales tax, Maharashtra, by Circular No 14 T of 2012 dated August 6, 2012 ("the Circular") conveys that VAT is payable on sale of flat during construction by a developer or builder ("the sale of flat") and seeks to induce the developers to […]
By Shri R. S. Bhatt Senior Executive Vice-President, Reliance Industries Ltd. “Be prepared- Goods and Service Tax (GST) is coming with effect from 01.04.2010”, declared the Finance minister in his Budget Speech for 2009-10. Collaborative efforts led by Empowered Committee of State Finance Ministers have helped reached an agreement on the basic structure of GST […]