Maharashtra property buyers get more time to pay VAT dues
With the extension of the deadline to pay the Value Added Tax (VAT) dues by the Supreme Court, now the buyers and the developers are quite relieved. The deadline has been extended October 31 for the VAT on flats purchased in Maharashtra between 2006-2010.
Also the SP has directed the Sales Tax Department to waive off about 15% interest rate on the dues along with a penalty in case all the sales between the period are registered by October 15 with the outstanding amount of VAT paid by October 31, 2012.
However, the order also follows the hearing of an application filed in the apex court by Credai Pune Metro this year regarding the stay on the matter. It is said that the extended deadline will help in compiling the data and collecting the dues from the customers making the process a little easier with ample amount of time.
buyers and the developers, Interest rate, Maharashtra, sales tax department, Supreme Court, VAT on flats, VAT( Value Added Tax)
