By Accommodation Times Bureau
Sales tax department is calculating the VAT (value added tax) paid by almost 10,600 registered dealers and developers, a group of chartered accountant that has formed a forum of oppressed flat buyers who were very much tensed by the VAT procedure is now asking the developers to refund their amount.
The forum operated through a website called www.flatvat.com have asked all the buyers who have registered at their website to ask for a debit note or tax invoice and also a receipt of the amount paid to the builders. This will confirm that the developers had paid the tax to the government and will help you further in getting refund.
The sales tax department is still figuring out the total VAT amount and hopes to collect at least more than 1,000 crores paid by ‘’registered’’ developers. Officials of department said that majority of big developers have paid their tax but several smaller builders are yet to show returns. It is a rule that dealers have to file sales tax returns every three months. We are still verifying the correct reasons as to why the developers are irresponsible behavior.
Unexpectedly some developers before a buyer asking for refund have decided to return the balance from total 5% of the agreement value they have collected.