Mirror Now
@mirrornow·2.2M subscribers·145K videos
Do buyers need to pay VAT to developer with interest?- Property Hotline
Posted
December 8, 2016
Views
103
Likes
1
Engagement
0.97%
December 8, 2016
103
1
0.97%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
2:46Now PlayingExpert: Pannkaj Ghadiali, Tax Expert.
Question: I had purchased a flat in 2007 in Pune, Maharashtra. I had received a letter 3-4 months later from the builder saying I need to pay 5? VAT on the property purchased as the property was purchased between June 2006 and March 2010. Now I have received letter from the builder saying I also need to pay interest as the builder has already paid the money to the government. Does the buyer need to pay VAT or the Builder? Also do I have to pay the interest?
Answer: Builder is liable to pay VAT to the government. If the builder has not paid VAT to the government then it is his problem, he will have to pay interest out of his pocket. But buyer needs pay VAT to the builder during the purchase or when appropriate. You can go to the builder with tax lawyer and tell him that you can pay VAT but not interest.
Be Un Confused
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
