Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post - VAT on Flat

matrix · 12-03-09

I took possession of new flat in Feb, 2009, located at Dombivli East, Maruti Mahadev Nagar. It was a shock when I was forced to give Irrevocable Bond stating that I am liable to pay the VAT, if applicable, on my new flat if the government of Maharashtra imposes the same. The dispute on VAT is presently pending in the court of law.

The Builder has also asked me to give a Blank Cheque duly crossed and signed by me (mentioning Not Over Rs.). The Builder has never informed me about the VAT while booking the flat in April, 2008 or later. This was informed only when handing over the Key of the flat in Feb, 2009!! The customers are not being informed about the VAT when booking the Flat. I am sure, If the customers of the flat are liable to pay VAT, the builders and the government will have to face a major setback and tragedy in real estate.

New ers are required to ask the builders about the VAT before booking new property.

12-03-09	#1
matrix New Member Join Date: Mar 2009 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	VAT on Flat - Keeping people away from ing flat I took possession of new flat in Feb, 2009, located at Dombivli East, Maruti Mahadev Nagar. It was a shock when I was forced to give Irrevocable Bond stating that I am liable to pay the VAT, if applicable, on my new flat if the government of Maharashtra imposes the same. The dispute on VAT is presently pending in the court of law. The Builder has also asked me to give a Blank Cheque duly crossed and signed by me (mentioning Not Over Rs.). The Builder has never informed me about the VAT while booking the flat in April, 2008 or later. This was informed only when handing over the Key of the flat in Feb, 2009!! The customers are not being informed about the VAT when booking the Flat. I am sure, If the customers of the flat are liable to pay VAT, the builders and the government will have to face a major setback and tragedy in real estate. New ers are required to ask the builders about the VAT before booking new property.