Payment of VAT Tax for purchase of a property

Published December 30, 2013 6:21 pm

I have to make VAT Tax payment for a purchase of a (commercial) property.

The property was a resale property. When I had purchased a new flat earlier, VAT payment logistics were handled by the builder himself. Hence, I did not go through the process and associated hassles. The vendor reselling the property did not offer assistance in the VAT tax payment  for the transaction. That meant I have to handle it.

I went through the ordeal of 4 hours to finish the task. The notes below may help you go through the process smoothly:

  1. VAT payment needs to be done by paying through a challan for the commercial tax office for your <circle>. I came to know that it was madhapur in my case.
  2. Get a blank copy of the challan rubber stamped for the office.
  3. Fill the Challan.
  4. Locate the axis bank branch where you can pay the challan.
  5. Know the exact amount that needs to be paid. In my case, it was 1.25% of the sale value.
  6. Make the payment.

Getting the challan and filling it

  1. I found an agent outside the axis bank branch who provided me the challan form for Rs. 100/- and filled it also for me. (but he made mistake in filling the form that I came to know later).
  2. Ask your seller to provide you a VAT challan and take care of paying it. If he agrees, you are relieved of this. If he does not agree,  ask him to get you a challan and all the details that needs to be filled in the VAT challan.
  3. In my case – two details were key to be filled in the form
  4. Dealer name and address – this should contain the seller company name who is selling the item. For example: Abc Ltd. madhapur, Hyderabad – 31.
  5. Dealer’s registration number – I have fill the TIN number of the seller.
  6. For which the amount is deposited – VAT Tax

Finding the bank branch to make the payment

  1. For the madhapur (Hyderabad) circle, I have to make the payment in the axis bank branch. details below.
  2. It is good to locate the branch whereabouts clearly before going there. I wasted 1 hr getting to the branch since I did not know exact location.
  3. If any one of you find a way to make such payment online, do comment for the help of others. I did not have time to look for that.
  4. I have made cash payment. DD, and cheque payment is also possible. but I was told that it will take additional time. Hence, I went for cash transaction.

Phone – (040) 24730445 Address: Block No 5, 1st Floor, Gruhakalpa Building, Commercial Tax Office, Nampally, Hyderabad – 500001

Directions: When going from the Nampally towards Karachi bakery (muzamjahi market), the branch is located inside a building on left side. It is the second building prior to the deep green color high rise (10+ floor) building. If you crossed green building, that means you have gone ahead.

After entering the main gate of the building, axis bank atm+branch is visible on taking left. if you get confused, ask any agent/person standing outside these buildings for the axis bank branch.

Branch Timing: Branch operates to take cash payment between 10am to 1:45pm.

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