Need to know vat liability flat was booked as near posession

Dhiraj (Other) (24 Points)

29 August 2012  

Hello,

I had booked flat in pune on 03-Oct-2009 at the time of booking flat was 85% complete.

Home Loan bank approved loan an status was : ReadyPosession Flat 

I took posession on 02-Jan-2010

I have got notice from builder regarding VAT payment.

Can anyone please let know if I have to pay VAT since on Bank record its shown as Ready Posession flat?

Also if I have to pay VAT will it be calculated on entire agrement value or only part of construction which was remaining  to be constructed at time of booking i.e 15%  since 85% was already constructed 

 

Thanks and Regards,

Dhiraj