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[Cites 0, Cited by 3] [Section 4(7)] [Section 4] [Entire Act]

State of Telangana - Subsection

Section 4(7)(d) in Telangana Value Added Tax Act, 2005

(d)[ Every dealer engaged in construction and selling of residential apartments, houses, buildings or commercial complexes may, in lieu of the amount of tax payable by him under clause (a) opt to pay tax by way of composition [at the rate of five percent (5%)] [Substituted by Act No.21 of 2011.] on twenty five percent (25%) of the amount, received or receivable towards the composite value of both the land and building or the market value fixed therefor for the purpose of stamp duty, whichever is higher, subject to such conditions as may be prescribed: