Applicability of value added tax

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Whether a partnership firm engaged in the business of developing building on its own land or joint venture with any land lord and later selling out to customer for both residential or commertial purpose are subjected to VAT as per West Bengal VAT.Seeking unambiguous opinion whether VAT applicable or not at present

AI Summary

Partnership Firm's Building Sales: VAT Applicability Question Under West Bengal Laws Hinges on Works Contracts Precedents A query was raised regarding whether a partnership firm involved in developing buildings on its own or through joint ventures and selling them for residential or commercial purposes is subject to VAT under West Bengal VAT laws. The response referenced decisions from the Supreme Court and Allahabad High Court concerning Works Contracts, suggesting that these rulings could clarify the VAT applicability issue once the case is decided based on these precedents.