I have paid 1 Lac 71 k in Mar 2006 and registration made on 1 June 2006 Property worth of 1793000 .
I paid registration charge 73K + 13.5 K as stamp duty , , paid installements in duration 2006-2007 .received flat possession on 1 Sep 2007.
Today after 6 years , we received VAT notice from Builder asking 5% VAT on 17930000 which is comes to 90k ninty thousand rupees ...
1.Is VAT applicable to me ? from what date ? is VAT is applicable on 01 July 2006 onwards ?
2. 5% VAT - what is the calculation ? and why not only 1% ?
3. what is document we should ask to builder for confirmation ?
Please guide us ... 90k is huge amount and builder said he may add interest to it ...