Q:I bought a flat in Hyderabad telangana for which all payments have been completed before June 30th 2017. However i waited for registration to be done in July post GST thinking that VAT which is to be paid pre-GST will get subsumed in post GST period. However my builder is still insisting on paying up VAT? Can anyone please confirm if there is a need to pay VAT now ?
Latest Answer: No, you do not have to pay VAT for your flat. You have to Pay only Stamp Duty - 4.5%, Registration Charges - 1.50% and transfer Fee - 0.50%.
Your builder has to pay VAT and later apply for the Input Credit and later he will pass it on to us.
