Vat on residential flats in maharashtra
Abhijeet
(Querist) 22 March 2014
This query is : Resolved
There is lot of confusion about VAT payments of residential flats which were bought between 2006/2010. My question is about recent modification announced for calculation of VAT on flats during that period.It came in news paper that now there are 3 slabs for payment of VAT which are 100%, 55% and 0% depending on at what stage you bought the flat. My builder is saying that this is applicable for one of the three methods earlier announced in which 5%flat VAT was collected. Is this true or is it applicable across all methods of VAT calculations?
Please advise.
Thanks & Regards,
Abhijeet
Rajendra K Goyal
(Expert) 22 March 2014
Consult your tax consultant.
Moneylife Digital Team | 27/09/2013 04:54 PM |
The Supreme Court upheld the Bombay High Court’s verdict that asked builders to pay 5% value added tax -VAT for under construction flats sold during 20 June 2006 to 31 March 2010.
