I bought a resale flat in March 2012. I hav a NOC form builder as there are no dues pending. My Bank loan is also approved.(The seller purchased his under construction flat but it was ready and on rent before I bought it). Now the Maharashtra Govt has decided to collect VAT (Value added tax) from home owners who bought their homes betweeen June 2006 and March 2010.The value of VAT has been decided as 5% of the total agreement value. But since i bought this ready to move in flat from a previous owner, do I need to pay the service tax and vat on my property as my property is resale.
CAclubindia
