Supreme Court Relief for Builders in VAT case
By Accommodation Times Bureau
Supreme Court of India had instructed Builders to pay VAT accrued on real estate transactions in Maharashtra on or before 31 Oct 2012. All the concerned parties and builders have to register with VAT authority by 15th Oct 2012.
The Hoble Court had also said that the VAT has to be paid without any interest or penalty in protest. If the government looses, the VAT so paid will be refunded to the concern registered dealers / builders.508