I purchased a 2 BHK flat in 2008 and per the recent case between the Maharastra Government and Builder association which the builder association lost.
And now the builders are supposed to pay 5% VAT for the flats they sold.
After this I received a notice from the builder to pay the 5% VAT as he says, he did not collect it when the deal was finalized and now the owners have to pay the VAT before 15th October.
I see that most of the sites news papers say the flat owners are not supposed to pay the VAT and builders have to do that, I am not really sure what should i do as the VAT amount is huge.
Builder has given the reference of the clause in my agreement which say I have to pay any tax in the future which is implemented by the government.
Also Builder has calculated the 5% of the cost mentioned in my agreement.
I am not really sure what should i do.
Any advise will be highly appreciable.