Maharashtra government to recover VAT from flat owners
As the state government plans to recover VAT, a trade circular is issued by the Maharashtra sales tax commissioner on August 6. The tax will be collected from the developers and builders, who would seek the money from the flat owners.
Developers’ associations in the state including Confederation of Real Estate Developers Association of India (CREDAI) plans to file a plea in the Supreme Court seeking a temporary stay on the collection of VAT till the apex court decides on it.
According to estimates, there could be over 1.6 lakh flat owners in Pune itself who bought properties between June 2006 and March 2010 and if the clause about payment of VAT has been mentioned in the agreement between the flat owners and the builder/developer, then the flat owners may have to pay.
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