The High Court also approved the composition scheme under the Maharashtra VAT Act, which applies to registered merchants who construct dwellings, dwellings, buildings or premises and who, on the basis of an agreement with real estate or interests that are the basis of the property, transfer them under certain conditions, up to 1% of the contract amount set out in the agreement or the value set for stamp duty under the Bombay Stamp Act 1958, according to the highest value. The instructions were filed on a petition from Deftech Builders, which states that Haryana Hat communicates to more than 400 builders in Gurgaon with the request to obtain up to three percent of stamp duty on the agreements they have made with landowners for the construction of various projects. According to the law, if a public authority finds that the stamp duty levied is not sufficient for each document used as evidence (convention), then it can collect the tax. The owner argued that the corresponding section of the act did not apply to the agreements. The court asked the government to explain within three weeks the reasons for the introduction of stamp duty on such agreements. She also asked Haryana to explain why such a tax should not be suspended from stamp duty. Before we get to the tax part, it is necessary to look at the history of the tax. In the context of proceedings before the Supreme Court division of K. Raheja Development Corporation vs. State of Karnataka (2005) 141 STC 298 (hereafter the Raheja case), the owners of the land have also engaged in the construction of housing/complexes and have entered into sales contracts with the intended buyers for this purpose.
It was decided by the Supreme Court that an owner of the property could also execute a construction contract if the owner entered into a construction agreement with potential buyers. However, if the agreement were reached after the construction of the unit, there would be no construction contract. But as long as the contract is concluded before the end of construction, it would be a construction contract. LO concludes a cooperation agreement with BD, where – (Rs. In lakes) According to Paranr. 2.5 of the memo of 7.5.2013 “, it should be noted that in some cases, even the owner of the land may have entered into agreements with potential buyers regarding his part of the building built by the developer or owner. In such cases, even the owner of the land would be taxable on the taxable turnover associated with the transfer of property involved in the execution of a contract for the work of such a building (although it is actually carried out by the developer or the owner). However, care must be taken to ensure that the landowner and the developer are not taxed on the same transaction. He added: “Haryana is unfair when it comes to charging a retroactive stamp duty. Referring to the Indian Stamp Act-1899, Haryana decided two years ago to impose a 3% stamp duty on development agreements.
” (i) the sum of the sums that the developer receives from its customers for the sale of construction contracts or contracts for the sale of buildings before the completion of such a building, in order to transfer to it an undivided share of land; (i.e. based on the amount received by potential buyers to the country); or (iii) aggregation of the amounts set under the legislation as the value of the undivided share of land transferred to customers with whom it has contracted construction contracts or building sales contracts, but before the completion of such a building (i.e. on the basis of the communal circuit).