Sid, Mumbai
Q: I bought a flat in Malad in Jan 2010. I understand that the service tax issue has been setlled at Post July 2010 @ 2.5%. What about Vat? Pre April 2010 it was 5% and after that 1%..but there wa s a stay on this. What is the position now? Any news? The builder is forcing us to put the amount in an Fd or wont give us possession.

Latest Answer: I absolutely agree with you Sid, the ST and VAT is a burden on buyer. The VAT will be implemented by the state which will be charged on home buyers.

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