VAT IS APPLICABLE ?

Q: Hello Sir.
I purchased a flat in Greater Noida (UP) form IITL Nimbus builder in March 2014 and they give me possession in November 2014. Earlier when i purchased the flat builder not told me anything about VAT. but during the time of possession they ask to give VAT (2%) of Basic property cost.
now i want to know, VAT is applicable in my case and if yes what will be the percentage value of VAT amount. and i also want to know, as the VAT amount is already taken by builder from me in November 2014 (4 Months back). but till now Builder not call me and other flats owners for registry.
kindly give me your valuable reply.

Amit, Apartment Resident

18th March 2015

Property Tax in Nimbus Express Park View-I, Sector CHI V, Greater Noida

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Replies (2)

U.P. VAT IS PAYABLE ON TAXABLE GOODS ONLY. AS THE FLAT YOU HAVE PURCHASED IS NOT GOODS HENCE VAT IS NOT PAYABLE. FOR FURTHER CLARIFICATION IF ANY PLEASE BE FREE TO COMMUNICATE....

Narendra Jain, Noida

19th March 2015

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Thanks for your reply. but builder is asking for VAT and said this tax is decided by Supreme Court.
here is a link of one of article please read and give me your valuable comments.
http://articles.economictimes.indiatimes.com/2013-10-14/news/43027422_1_vat-property-prices-immovable-property

Amit, Apartment Resident

19th March 2015

Hi Amit, VAT is not given separate . it is included with service tax of the properties. If you already paid the ST then there is no chance to pay extra VAT again and again. more over you can take some advised from local adviser .

Sufia, Delhi

18th March 2015

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