Section 24B(2) in Kerala Value Added Tax Rules, 2005
(2)Where such contractors are holding flats or apartments or villas the contract of which was undertaken prior to1st April, 2007 but pending to be transferred as on the 1st April, 2007 and a portion of or full tax for its construction under the Act has already been paid by them, such contractors shall have to file the declaration in Form No 49 on an annual basis relating to the years in which such payment of tax have been made.
