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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Mumbai > Need clarification on 1 % VAT for under construction property
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Old October 31 2010, 10:48 PM   #1
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Default Need clarification on 1 % VAT for under construction property

Hi All,

I puchased under construction property in Jan 2010 and same was registered in Feb 2010. Maharashtra govt introduced a new law to impose additional 1 % VAT on under construction property and this law is effective from 1st April 2010.
My buider has asked for this 1 % VAT and eventhough it was regstered before April.
Can someone in this forum provide any clarification on this new law? is it applicable for any under construction property or it is only for those registered after April 1.

thanks in advance for your help
 
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clarification, construction, property, vat
".Mumbai.", ".Maharashtra."India