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chandrashekhar Kale (Querist)
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31 October 2012 Dear Sir,
I have purchased under construction property in Thane ( Mumbai ). I have done agreement with builder in 22 Nov 2010. Builder has not yet handed over possession. Builder is demanding 1% VAT on Agreement value and 25% penalty.
Does 25% penalty liable in this case? Please advice me.

chandrashekhar Kale

chandrashekhar Kale (Querist)
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03 November 2012 Dear Sir, I have purchased under construction property in Thane ( Mumbai ). I have done agreement with builder in 22 Nov 2010. Builder has not yet handed over possession. Builder is demanding 1% VAT on Agreement value and 25% penalty. Does 25% penalty liable in this case? Please advice me.

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