MVAT act
Anonymous asked 6 years ago
This is regarding the sale of under construction projects by builder or developer to buyer or purchaser between year 2006 and 2010 in Maharashtra State.
So Let say builder did the agreement in 2007 with one clause in agreement that Any VAT applicable will be paid by Buyer. But builder did not collected any VAT during registration
In 2009 got possession of FLAT and that time also no VAT demanded by builder.
Now in 2012 builder asked buyer to pay 2.2 percentage VAT against the total FLAT agreement cost. No breakage given by builder for VAT calculation.
As there is no legal rule or court Judgement to pay VAT so no one paid the VAT.
Then again in 2016 Builder charged additional 16 percentage interest per annum and doubled the amount and threatened about legal action.
So Please let me know the clear judgement by Supreme court on this matter.
Who should Pay the VAT and how much amount ?