Service Tax on Under Construction Flat booking - Page 11 - Indian Real Estate Forum

Sharpj · 28-03-10

Quote:

Originally Posted by Rupali_SG

Yeah. It's the lakehome project. Builder has precisely asked for 4% VAT and 3.3 % of service taxes. The major problem sounds to be the completion certificate of the building which the builder has not yet received.

Hi Rupali,
I have also the same issue and have bought a flat there, but now the builder wants to open a FD in Union Bank and create a lien in his favour for VAT. I am currently abroad and this has come as a bolt from the blue. I am thinking of doing it as the builder is withholding possession, but want to legally cancel the lien later as I think it is illegal. Please any advice whether this is possible. I am struggling to raise funds for the stupid FD as I am already maxed out on my loans and this is nothing but blackmail.

boldm28 · 28-03-10

IPL3 in Maharashtra is not taxed but home buyers are

informsantosh · 29-03-10

pawar ji ka haath(symbol of sonia's congress) hein IPL ke saath!!!!!! apake pass kya hein (Maa?)

informsantosh · 29-03-10

Quote:

Originally Posted by informsantosh

pawar ji ka haath(symbol of sonia's congress) hein IPL ke saath!!!!!! apake pass kya hein (Maa?)

OOps i mentioned dialog from 'Deewar' amitabh's movie, Now all congress supporters will run away from this forum, Please dont do that, Italian mama will nt know about it

sakelkar · 29-03-10

http://www.business-standard.com/ind...d-cost/390054/

Sharpj · 31-03-10

Thanks for the service tax article. Yeah the Service tax will still be known by July. But our builder is asking us for the VAT that was passed by Maharashtra governement at 4% of agreement value that is still in the high court.

Sharpj · 31-03-10

Quote:

Originally Posted by sakelkar

http://www.business-standard.com/ind...d-cost/390054/

Thanks for the service tax article. Yeah the Service tax will still be known by July. But our builder is asking us for the VAT that was passed by Maharashtra governement at 4% of agreement value that is still in the high court.

sakelkar · 31-03-10

Quote:

Originally Posted by Sharpj

Thanks for the service tax article. Yeah the Service tax will still be known by July. But our builder is asking us for the VAT that was passed by Maharashtra governement at 4% of agreement value that is still in the high court.

It is not 4% of agreement value but 1%. Also evaluate whether you yourself can pay it. I am not sure but it might be possible.

Besides if your agreement for sale is registered before 1st April 2010. Do not need to give single rupee to Govt/Builder.

HTH,
Sameer

sanav3 · 31-03-10

Quote:

Originally Posted by sakelkar

It is not 4% of agreement value but 1%. Also evaluate whether you yourself can pay it. I am not sure but it might be possible.

Besides if your agreement for sale is registered before 1st April 2010. Do not need to give single rupee to Govt/Builder.

HTH,
Sameer

sakelkar you are talking about the newly set 1% thing, theres a old proposed VAT.. 4-5% and its pending in HC for long now

sakelkar · 31-03-10

Quote:

Originally Posted by sanav3

sakelkar you are talking about the newly set 1% thing, theres a old proposed VAT.. 4-5% and its pending in HC for long now

So the question. This new 1% VAT in place of "old" VAT? or Is it in addition to it? I was aware that something is pending in Mumbai H.C. But this budget 1% thing came up hence I thought the old one gets supplanted by this one.

- Sameer

28-03-10	#102
boldm28 Member Join Date: Aug 2009 Posts: 231 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	IPL3 not taxed but home buyers are IPL3 in Maharashtra is not taxed but home buyers are

29-03-10	#105
sakelkar Member Join Date: Jun 2009 Posts: 268 Thanks: 0 Thanked 3 Times in 3 Posts Rep Power: 1	Latest news item on ST http://www.business-standard.com/ind...d-cost/390054/

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29-03-10	#103
informsantosh Member Join Date: Oct 2009 Posts: 159 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	pawar ji ka haath(symbol of sonia's congress) hein IPL ke saath!!!!!! apake pass kya hein (Maa?)

31-03-10	#106
Sharpj Senior Member Join Date: Mar 2010 Posts: 732 My Mood: Thanks: 3 Thanked 4 Times in 3 Posts Rep Power: 1	Thanks for the service tax article. Yeah the Service tax will still be known by July. But our builder is asking us for the VAT that was passed by Maharashtra governement at 4% of agreement value that is still in the high court.