5% VAT on Underconstruction Flat - Navi Mumbai

Software Professional

Hello Everyone,

This is first post , hope to get some valuable feedback on my query :)

I have booked a Flat in new Panvel ( Koproli ) and done Registration / stamp duty on 23-03-2010.

Now I have received a letter from my Builder asking to pay 5% VAT on the agreement value under maharashtra value Added Tax Act 2002 with effect 20/06/2006.

I have come to know this matter is pending in Bombay High court.

Builder also asked to pay 2.57% services tax on all the payments made after 01-07-2010.

I would like to know ,

> Is 5 % VAT is really applied by MH Govt or it is still pending ?

> How to pay this tax ? what is Bank Gutantee, can i do it from outside MH state ( it is mentioned to pay by this ) ?

> In case this tax is not paid within Builder given time frame , is there could be any further issues ?

 

Many Thanks in advance !!

Ashutosh

 
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