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Answered on November 09, 2017
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  • How old is the society? When is the builder going to hand over operations to the society. Normally, as a practice a builder runs the maintainance for 6 months to a year to ensure everything is smoothly running. Post this, it is normally handed over to the society with proof of where the money has been utilized.


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    Answered on November 09, 2017
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  • In Maharashtra, VAT on sale of underconstructed property brought into effect from June 2006. Hence, builder would be liable to pay VAT on agreement to sale effected in Nov 2009. There are various methods for arriving at the taxable value of transfer of property in goods during construction. Liability to pay VAT by flat buyer to the builder would be dependent on the contractual arrangement betw...
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    Answered on November 09, 2017
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  • Yes, they are separate and can be charged, subject to resoultion passed to that effect in a lawfully conducted general body meeting