Hello, i have query regarding the current VAT issue.
I am purchasing a resale (i will be third owner) flat. The first owner has purchased it from builder in 2008.
1. Builder is asking me to pay the VAT, am i responsible for same ?
2. The second owner who is selling the flat to me, wants a clause to be put in sale deed that, "Second owner is not responsible for VAT that will be claimed". Will it cause a problem later ?
3. Has such back dated (2006 - 2010) VAT rule been legally passed till date ?
My Analysis - VAT is the question of first owner or the builder, and neither second owner or me should worry about same. Please confirm.