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Home > Forum > Mumbai > Property Tax > VAT on real estate in Maharashtra is creating confusion

VAT on real estate in Maharashtra is creating confusion

Q: Hi the recent VAT on real estate in Maharashtra is creating a confusion to me. I bought a flat in mira road from a builder. The construction may be started by 2010. I have registered the flat on Nov 2011. I am getting possession by Sep 2012. Now my question is according to the news VAT has to be paid by flat buyers between 2006 to 2010. will i need to pay this VAT ?

vat
vat; property tax; 2006-10
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Replies (5)
1
Hi all, let me add some info here. Builders lost their case in Bombay High Court, according to which they have to pay VAT on flats registered between 20/6/2006 to 31/3/2010.

VAT of 1% on agreement value and service tax of 2.575% was applicable and then after April 2012, service tax of 3.09% is applicable. This is how I have understood. Hope this helps.
Deepak


2
Service tax is 2.575% upto April 2012.The same rate will be applicable to you.
Suresh


3
Ok now i understood that, all buyers from 2006 has to pay VAT @ 1% of the agreement value. And how about the Service Tax, any one has idea of rate of ST?

NO GUESSES PLZ. IF U DO NOT KNOW PLS DNT REPLY.
vnethirajan


4
Hi all, I think after April 2010, VAT under 1% composition is followed which was increased later on.
Sreyansh


5
Yes, you also have to pay tax. But the difference is in rate of interest. I am not very sure about the rates.
Kamal


6

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