https://www.taxtmi.com/caselaws?id=796449 VAT under the composition scheme arises on execution and registration of the sale deed, not on advances received from prospective purchasers during construction, where a binding advance ruling so provides. The ruling under Section 67(4) binds Commercial Tax Department authorities, preventing an assessing authority from adopting a contrary interpretation. "Received or receivable" must be read with the requirement to discharge tax in the month the property sale is concluded and registered, based on the consideration in the initial agreement. Levying VAT on pre-registration advances would also undermine legal certainty and legitimate expectation and create impermissible double taxation. en-us Fri, 06 Feb 2026 00:00:00 +0530 Thu, 06 Aug 2026 09:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796449 VAT under the composition scheme arises on execution and registration of the sale deed, not on advances received from prospective purchasers during construction, where a binding advance ruling so provides. The ruling under Section 67(4) binds Commercial Tax Department authorities, preventing an assessing authority from adopting a contrary interpretation. "Received or receivable" must be read with the requirement to discharge tax in the month the property sale is concluded and registered, based on the consideration in the initial agreement. Levying VAT on pre-registration advances would also undermine legal certainty and legitimate expectation and create impermissible double taxation. Case-Laws VAT / Sales Tax Fri, 06 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796449