• Rate of vat on under construction flat

I have booked a flat in an under construction multystorey building in March,2013,till the end of 2016 made more than 80 percent payment ,now the flat is ready for possession and registry,the builder is asking for 4%VAT &3.09%Service tax on the payment made before 1,july,2017.Please tell me I have to pay Vat or not.If yes,then at what %.My flat is at AGRA,U.P.
Asked 4 years ago in Taxation

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8 Answers

Is that property will be auctioned or some other action can be on me.I am fighting the case .

In case the property was mortgaged and the loan has not been paid then the same will be mortgaged.

You may file a case against the builder to recover the money paid by you alongwith the interest.

Regards

Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

VAT and ST were subsumed in GST on and from 1.7.17

so any payments made by you prior to that date will attract VAT and ST at rates applicable in your state

If OC is received for the building and you make any payment post receipt of OC, then no GST will be payable

Yusuf Rampurawala
Advocate, Mumbai
6882 Answers
79 Consultations

5.0 on 5.0

You are not the effected party and the DRT can not give any relief to you.

The matter is between the bank and the builder before the DRT

Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

if the bank loan is not paid then the bank will auction and sell the property to realise its dues and any excess balance will be returned to you

have you paid any EMIs?

Yusuf Rampurawala
Advocate, Mumbai
6882 Answers
79 Consultations

5.0 on 5.0

Fir non payment of loan property woukd be auctioned

2) for recovery of balance amount bank would sue you

3) you have to file intervenor application in case pending in DRT

4) mention that you had not applied for loan

5) loan agreement was not signed by you

Ajay Sethi
Advocate, Mumbai
87955 Answers
6207 Consultations

5.0 on 5.0

You must contest case in DRT as in your absence DRT would pass exparte orders against you

Ajay Sethi
Advocate, Mumbai
87955 Answers
6207 Consultations

5.0 on 5.0

Hi, you should also register a FIR under section 420 and 406 IPC for cheating and criminal breach of trust

Hemant Chaudhary
Advocate, Gurgaon
4619 Answers
67 Consultations

4.9 on 5.0

It would be better for you to take proper legal guidelines by showing complete files of your case.

Mohammed Mujeeb
Advocate, Hyderabad
19031 Answers
32 Consultations

4.5 on 5.0

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