Maharashtra Government to issue an order today?:
As per the news of ExpressIndia, to pacify the united property buyers, today, Maharashtra Government may issue an order for adopting a simple procedure of charging 1 per cent VAT on Agreement Value for the flats purchased between June 20, 2006 to March 31, 2010. The same rate applicable for the flats purchased from 1st April 2010.
Yesterday, on 30th October 2012, Bombay High Court dismissed Maharashtra Chamber of Housing Industry-Confederation of Real Estate Developers Association of India (MCHI-Credai) "petition without merit" and ordered the builders to pay 5 per cent VAT before 31st October 2012.
However, according to TNN, the court held out 'a ray of hope' by saying the order would not come in the way of Maharashtra Government taking a decision applying post-April 2010 scheme to flats purchased between 2006 to 2010.
As of now, according to Vivek Velankar of Sajag Nagrik Manch, nearly 30-50 per cent property buyers have refused to pay VAT. Which, for sure, has affected the recovery of 5 per cent VAT on the flats purchased between 2006 and 2010.
So, the builders are trying their best to convince the Maharashtra Government to adopt a simple procedure of charging 1 per cent VAT on the agreement value - as per the prevailing norms.
1) Bombay High Court gives no relief to builders on VAT
2) घर खरेदी : व्हॅटची जबाबदारी बिल्डरांचीच
3) हायकोर्टाचा बिल्डरांना दणका;व्हॅट भरावाच लागणार
4) Bombay High Court to give verdict on VAT today
5) Flat Owners Who Have Already Paid VAT Join the Fight!
6) 31st October Deadline is for Builders!
7) VAT - Questions & Answers
8) Pune Flat Owners United Against VAT
9) 'Builders confusing flat owners about VAT payment'
10) We refuse to pay VAT!
11) How to Refuse to Pay VAT
12) MCHI-Credai moves court against VAT
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