Pune builders misguided flat owners about VAT
The flat owners association and civil society organisations accused the builders’ lobby for inducing confusion among flat owners about payment of value added tax (VAT), through social advertisements.
Confederation of Real Estate Developers’ Associations of India (CREDAI) has published advertisement about collection of VAT. As soon as the advertisement was out, the local builders sent mails to flat owners demanding immediate payment of the VAT amount, ranging from 0.66% to five per cent over the total agreement cost.
Moreover, the most important fact ignored by the developers is that many of them have not formed any cooperative housing society of flat owners.
Civil society organisations requested the flat owners not to pay tax till the builders form their cooperative housing society, submit tax invoice and clearance from electricity distribution company.
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