Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: form 3cd :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: empanelment
 
 
VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

Builders, buyers gear up for legal battle over VAT dues
November, 01st 2012

With the Supreme Court deadline on payment of value-added tax (VAT) expiring on Wednesday, builders tightened the noose around buyers to recover the tax and threatened legal action against them. However, housing activists said buyers should first ascertain whether they are liable to pay.

The builders have paid VAT to the state government for sale of under-construction properties between June 20, 2006, and March 31, 2010, irrespective of whether they recover it from buyers or not. The Bombay high court had quashed a plea challenging the tax on Tuesday.

We will start recovery proceedings from those who have defaulted, said Sandeep Runwal, director, Runwal Group. He said over 80% of his customers had paid the tax.

Manohar Shroff, secretary, Maharashtra Chambers of Hou-sing Industry (Navi Mumbai), stressed the liability to pay VAT is on the buyers. We are not making money and the consumers have to pay. There would be litigations in the coming days, he said, adding that buyers had agreed to pay VAT if demanded by the government. 

Housing activists say they are ready for a legal battle. VAT is a payment to be made by the builders, and buyers are being dragged into it, said advocate Vinod Sampat. Consumers pay for the flat which comprises all the components, including cost of land and raw materials. How can taxes regarding these components be charged from them? he asked.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions