Q:VAT and service tax on extra room in redeveloped propertyI am V Srivastava from Mumbai n have flat in malad west.. my building went under redevelopment in 2007. registration of the flat was done in november 2008. pl tell me if even on redevelopment of building(I have taken one room extra and i had to pay for that about Rs 1500000/), I have to pay VAT @5% of the total agreement cost along with penalty and interest for delay in VAT and Service tax. the delay of payment was done even by the builder. they infomed me just about 15 days back about this. pl inform and clarify my doubt on VAT. There was same rate for the new buyers too.
Latest Answer: Hi, I would suggest you to take a legal advisor's help regarding the same.. It looks the builder is trying to take extra money in terms of VAT.. Whatever payment you make, remember to ask for the correct receipts..
Q:Hi,
I bought a resale flat in Jan-2011. The building was completed in Sep-2009 and had Occupancy certificate. Previous owner bought the flat from builder. Now Maharashtra govt has notified for VAT payment at 5% for the property built between 2006 to 2010.
I am not the person who bought the flat from builder, rather bought from the first owner. So in case builder demands, am I anyway liable to pay VAT?
