Ashwani, Apartment Resident, Mumbai
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Do we still have to pay the 5% VAT?
Q: I have bought a flat in Casaulitma Thane "B" wing in March 2009 and registered in the same May -2009. I have received a letter from Lodha about 5% VAT and it is to be paid within 15 days of the receipt of the letter or else it will attract some additional interest. Although we registered in March 2009 but had made very little payments until march 2010 (after which the VAT was slashed to 1%). Do we still have to pay the 5% VAT or should it be charged as and how the construction progresses? Very Good, Very helpful

Latest Answer: The government said that VAT will be levied only on the cost of building material and not on the cost incurred on labour, engineering, architecture and construction services.

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