VAT payment
Builder and ancillary units in the construction industry defaulting VAT on ‘contract work’ now have to be cautious as the tax department of the Delhi Government is taking stringent action against the defaulters. Already, the special zone of the tax department has prepared the list of contractors and builders in consultation with the municipal body. [...] Continue Reading »
Maharashtra builders have warned the buyers that they could invite legal action on the face of failure in payment of value added tax (VAT) on the purchases made from June 20, 2006 to March 31, 2010. The builders have paid the amount to the sales tax department and want to recover it from the buyers. [...] Continue Reading »
Sources reveal that Maharashtra chief minister Prithviraj Chavan is not in favour of extending the deadline for paying value added tax (VAT) or reducing the tax rate on flat purchases. As the order of paying VAT has been handled by the high court, the chief minister does not want to extend the deadline or reduce [...] Continue Reading »
Confederation of Real Estate Developers Association of India (CREDAI) has called for the one per cent norm related to VAT payment to be adopted for the retrospective period between 2006 and 2010. The issue is pending with the Supreme Court, which had issued an interim order asking that the VAT on properties sold between the [...] Continue Reading »
As per planning, 1,500 flat owners of Pune gathered at Bhave school near Perugate on Sunday morning. The owners were disgruntled because of lack of transparency on the part of builders on payment of VAT. They were visibly angry and confused as they sought clarification on how much exactly do they owe the builders. The [...] Continue Reading »
