branjith1979

Dear Friends,

This is Ranjith From Pune. I need your valuable suggestions/ advice on the above mentioned subject.

I have bought a flat in 2006 ( Agreement Date 29/08/2006 ) from a reputed builder in Pune and took pocession in 2008 April. Now the builder has sent a letter ( dated 1/08/2012) to all flat owners in the society incluidng me for payment of VAT for the period ( 20/06/2006 to 31/3/2010) along with an interest of 15 % per annum. They have not mentioend the % VAT against the agrrement value.

Please give your advice about this ? Whether the builder is asking this as per law? Whether we need to pay the VAT ,i have checked the aggrement which does not mention anything about this. why we sould pay interest since nautification has come during this year against the appeal ??

Please Help

deepy_a1

Many of my friends have also recieved such a letter from their respective builders. One of my friend has sought a legal opinion on the same, his lawyer says as it is mentioned in his agreement that VAT if applicable is to be paid by the purchaser he is mandated to pay it. About the interest issue his lawyer was not able to answer, he will get back to him in the coming weekend. The builder has shown him the letter from Maharashtra Sales Tax dept.which demands interest of 15%.

HemantDesh

Thanks Deepy_a for information.
It is been said that 5% of agreement value is applied for this VAT + interest on the same 15% pa.
Is this true ?
OR is there any other calculation involved to ascertain the 5% VAT ? Pls reply.

pmmk53

I have booked flat before 1st April 2010 and registered after 1st April 2010. Then how much VAT (%) I have to pay?

punerebuyer

some of my friends also received this letter. The details are same.

VAT = 5% of agreement value + interest.

I dont understand why flat owners have been asked to pay interest if the delay is not because of them.

Prakashinani

Hi,

I purchased resale flat in oct' 2011.
Now as all are receiving this VAT notice from builder. I am wondering how this will workout for resale properties, as previous owner is responsible for this amount to be paid to builder.

Thanks.

amitk2508

Hi All

I've purchased resale flat in June 2011.

I read somewhere in DNA that "Reasle Flats are not required to pay VAT - by Sales Tax Commissioner".

Now as all are receiving this VAT notice from builder. I am wondering how this will workout for resale properties, as previous owner is responsible for this amount to be paid to builder.

Plz provide some guidance on this issue.

Thanks