vnethirajan, Mumbai
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VAT on real estate in Maharashtra is creating confusion
Q: Hi the recent VAT on real estate in Maharashtra is creating a confusion to me. I bought a flat in mira road from a builder. The construction may be started by 2010. I have registered the flat on Nov 2011. I am getting possession by Sep 2012. Now my question is according to the news VAT has to be paid by flat buyers between 2006 to 2010. will i need to pay this VAT ?

Latest Answer: Hi all, let me add some info here. Builders lost their case in Bombay High Court, according to which they have to pay VAT on flats registered between 20/6/2006 to 31/3/2010.
VAT of 1% on agreement value and service tax of 2.575% was applicable and then after April 2012, service tax of 3.09% is applicable. This is how I have understood. Hope this helps.

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