Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post - Beware of vat on flat before buying a flat

kourtney · 05-11-09

VAT tax to be paid on Flat purchase on the money given before the date of law passed?As you know government has levied VAT on the purchase of Flat. My agreement was signed on June 2005, I had taken advance disbursement of home loan and paid 95% of money in May 2006 itself. The possession of the Flat is in November 2007. In this case because I had paid the money before June 2006 (the date from which the VAT is levied) do I have to pay VAT on the entire amount or on the remaining amount related to grill, gas line, ammenities etc which is generally paid on possession. Please do answer my question urgently.
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affiliateelite

05-11-09	#2
kourtney New Member Join Date: Nov 2009 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	VAT tax to be paid on Flat purchase on the money given before the date of law passed?As you know government has levied VAT on the purchase of Flat. My agreement was signed on June 2005, I had taken advance disbursement of home loan and paid 95% of money in May 2006 itself. The possession of the Flat is in November 2007. In this case because I had paid the money before June 2006 (the date from which the VAT is levied) do I have to pay VAT on the entire amount or on the remaining amount related to grill, gas line, ammenities etc which is generally paid on possession. Please do answer my question urgently. _____________________ affiliateelite Last edited by kourtney; 07-11-09 at 04:50 PM.