Developers finding it hard to collect VAT in Maharashtra
Real estate companies in Maharashtra are facing a stern directive from Supreme Court to clear value added tax dues by the end of October.
As a result, most of them are almost turning into collection agents, as they have to rush to comply with the Supreme Court directive.
Any body who bought a home in Maharashtra since 2006 is now being hounded by the developer of their apartment for additional money as most agreements have been drawn up with the provision that any additional costs must be borne by the customer.
The VAT has to be paid within stipulated time as backing of the Supreme Court can not be negotiated. However, companies are finding it tough to collect the dues because quite a few of the homes originally sold in 2006 have already been resold thereafter.
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Maharashtra, maharashtra developers, Mumbai, Property agreements, Real Estate Companies, real estate companies in India, Supreme Court directives, Supreme Court order, value added tax dues
