No VAT for Mhada flats
No Comments Sub Category:Other cities,Realty News Posted On: Oct 31, 2012
The under-construction buildings which were purchased by buyers in the past six years will not attract any VAT (Value Added Tax).
It was told by the legal and tax consultants that residents under Mhada will not have to pay any VAT as Mhada does not enter into any sale agreement with its buyers unlike in private transactions.
As per the law, the builders are ordered to pay about 5% VAT for buying under construction properties from the year 2006-2010.
Tags:
legal, Mhada, private transactions, purchased by buyers, tax consultants, Under-construction buildings, VAT, VAT( Value Added Tax)
