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Tuesday, October 30, 2012

Bombay High Court to give verdict on VAT today

Today - Tuesday, 30th October 2012, a day before the deadline for developers to pay the levy ends!

The Bombay high court is scheduled to deliver its verdict on the Maharashtra Government's decision to charge value-added tax (VAT) on under-construction buildings between 2006 and 2010 on Tuesday, a day before the deadline for developers to pay the levy ends.

"Ultimately, the burden will be on the middle-class taxpayers or buyer of flats," said a division bench of Justice D Y Chandrachud and Justice Rajesh Ketkar. The bench will start hearing the case at 9.30am, one-and-a-half hours before the court opens at 11am. Click to Read More

Mhada flats do not attract VAT: Tax, legal experts

Buyers who purchased under-construction Mhada flats in the past six years may not have to pay the value added tax (VAT).

Legal and tax consultants have told Mhada that its projects do not attract VAT. The reason: Unlike in private transactions, Mhada does not enter into any sale agreement with its buyers. Mhada issues allotment letter to buyers after it has received the entire flat cost in maximum three installments. Click to Read More

Related Stories:

1) Flat Owners Who Have Already Paid VAT Join the Fight!

2) 31st October Deadline is for Builders!

3) VAT - Questions & Answers

4) Pune Flat Owners United Against VAT

5) 'Builders confusing flat owners about VAT payment'

6) We refuse to pay VAT!

7) How to Refuse to Pay VAT

8) MCHI-Credai moves court against VAT

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