Complaint Details

Status	:	Closed
Complaint No	:	0002271/2012
Category	:	Real Estate
Date	:	13-09-2012
Subject Line	:	VAT clarity on flats
Complainant	:	susanna shetty
Address	:	krishna niwas bldg flat 8 first floor subhash nagar estate n m joshi marg
Complainee	:	mayfair housing
Address	:

Complaint Details
Hello, i need clarity on the recent VAT circular issued by the Sales tax dept. ref. Trade Cir. 14T of 2012 dated 6.8.2012. I purchased a flat in Mumbai, Vikhroli while it was being underconstructed in April 2006. I paid the full agreement value of the flat and got the agreement registered on 12 April 2006, so the entire amount was paid, but only the Parking and possession amount e.g. society fees, electricity deposit etc was due to be paid and which was paid in 2008 when the building was ready for occupation. Can you tell me whether I am entitle to pay the VAT? The circular says that VAT is applicable for flats purchased from 20 June 2012 to March 2010. While I was being given possession the builder made me put a deposit in the escrow for the vat liability in 2008. And recently when the High court passed the order that the builders have to pay the VAT the builder has withdrawn the escrow amount from my bank. I need your help and advice whether I am entitle to pay VAT or not. thanks for your understanding and support in advance. Awaiting your reply at the earliest. Best regards, Susanna Shetty

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