Ramakrishnan Iyer
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Kalpataru asking for FD of 4 percent towards provision of MODVAT
Q: Hi All, I bought a flat in Kalpataru Estates (Pimple Gurav, Pune) phase-2. I did the registration of my flat in year 2009. As per the last letter from Kalpataru Construction, I paid all the dues and went to their site office for possession. On reaching there, I came to know that I have to make FD of 4 percent towards provision of MODVAT/Service tax liability. They refused to give me in writing the reason for the amount, or information regarding how this amount will be used in the future. Also the construction company did not give me clear picture about the refunded. They just want to communicate it verbally or over phone. Did anybody got letter from Kalpataru for 4% amount? I am very suspicious about the intention of demanding 4percent amount since there in no transparency. Reputed builders like Hiranandani is asking for just 1percent through written communication. So why Kalpataru is asking for 4percent and also not communicating it in writing. Also, please share if anybody has faced a similar issue.

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there is a SC rul the latest SC judgement conditions and act accordingle or consult legal opinion in modvat and take decisionading that builders are liable to pay VAT for the flat under construction.rethere is a SC rul the latest SC judgement conditions and act accordingle or consult legal opinion in modvat and take decisionading that builders are liable to pay VAT for the flat under construction.re
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