Vat on flats purchased in 2006 to 2010
Thomson
(Querist) 03 April 2013
This query is : Resolved
hi,
i have purchased a flat by making an agreemnt on 30-03-10 in Pune. i have paid the entire agreemnt amount by 30-04-10 & got the possession on flat on 01-05010. I got Completion certificate in the month of Oct-2010 from PMC. In the agreemmnt it was mentioned that,if any extra taxes or duties imposed by the Govt. will be born by purchaser. Now in the month of March-2012, i have sold my flat. am i liable to pay the VAT? Builder is asking me to pay the VAT? am is liable to pay the VAT?
Raj Kumar Makkad
(Expert) 03 April 2013
You are very well liable to pay VAT as it is applicable since 2008. The rates of VAT vary from State to State.
