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:
- 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.
- Get a blank copy of the challan rubber stamped for the office.
- Fill the Challan.
- Locate the axis bank branch where you can pay the challan.
- Know the exact amount that needs to be paid. In my case, it was 1.25% of the sale value.
- Make the payment.
Getting the challan and filling it
- 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).
- 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.
- In my case – two details were key to be filled in the form
- Dealer name and address – this should contain the seller company name who is selling the item. For example: Abc Ltd. madhapur, Hyderabad – 31.
- Dealer’s registration number – I have fill the TIN number of the seller.
- For which the amount is deposited – VAT Tax
Finding the bank branch to make the payment
- For the madhapur (Hyderabad) circle, I have to make the payment in the axis bank branch. details below.
- 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.
- 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.
- 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.