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 ?
Latest Answer: 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.
Q:Dear Friends,
I found following link related to VAT for flats bought from 2006-10. We have to pay approx 1-1.5 Lacs to builder. So, it is very very crucial point/topic of discussion and we should discuss about it.
From TOI:
http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOIPU/2012/08/11&PageLabel=5&EntityId=Ar00500&ViewMode=HTML
We should think about it and come to some collective common decision.
Thanks and regards,
Nikunj Banker
