From: CA Santosh S. Samdadiya <ca.samsans@gmail.com>
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TOI
http://timesofindia.indiatimes.com/city/nashik/Nashik-builders-register-with-sales-tax-department/articleshow/15578403.cms
-With Regards,
L S N & CO
CHARTERED ACCOUNTANTS
SANTOSH S.SAMDADIYA
PARTNER
D2 A1, SETHICITY PLAZA,
OLD MUMBAI AGRA ROAD,
NASIK-422001, MH, INDIA
CALL: 0253-2501637, 9860621537
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NASHIK: Following instructions, builders in the city have started registering with the sales tax department of the state government.
Moreover, the Confederation of Real Estate Developers' Association (CREDAI) has reportedly decided to pay value added tax (VAT) of 1% from April 1, 2010 , while the matter of paying backdated VAT for the past four years from April 1, 2006 to March 31, 2010 is pending with the Supreme Court. The hearing is set for August 31.
The state has levied 1% VAT on builders from April 1, 2006. The builders were ready to pay tax from April 2010, but denied to pay VAT for the past four years and had moved the Supreme Court against the government's decision to pay backdated tax from 2006-2010.
There are around 350 builders in the city, out of which, around 204 builders are members of the CREDAI. The sales tax department had recently instructed the city builders to get registered and start paying VAT at the earliest.
"Most builders have already registered themselves with the sales tax department. We are ready to pay VAT from April 1, 2010. But the state has directed to pay backdated VAT from April 2006 to March 2010 and we have already moved Supreme Court on this issue. The builders have already sold out flats during this period and logically it will not proper to recover 1% tax from the consumers. This will be injustice to consumers," a member of CREDAI, told TOI on condition of anonymity.
"We have still not decided on the issue of paying backdated VAT as the issue is pending with the Supreme Court and hearing is to be held on August 31," he added.
Moreover, the Confederation of Real Estate Developers' Association (CREDAI) has reportedly decided to pay value added tax (VAT) of 1% from April 1, 2010 , while the matter of paying backdated VAT for the past four years from April 1, 2006 to March 31, 2010 is pending with the Supreme Court. The hearing is set for August 31.
The state has levied 1% VAT on builders from April 1, 2006. The builders were ready to pay tax from April 2010, but denied to pay VAT for the past four years and had moved the Supreme Court against the government's decision to pay backdated tax from 2006-2010.
There are around 350 builders in the city, out of which, around 204 builders are members of the CREDAI. The sales tax department had recently instructed the city builders to get registered and start paying VAT at the earliest.
"Most builders have already registered themselves with the sales tax department. We are ready to pay VAT from April 1, 2010. But the state has directed to pay backdated VAT from April 2006 to March 2010 and we have already moved Supreme Court on this issue. The builders have already sold out flats during this period and logically it will not proper to recover 1% tax from the consumers. This will be injustice to consumers," a member of CREDAI, told TOI on condition of anonymity.
"We have still not decided on the issue of paying backdated VAT as the issue is pending with the Supreme Court and hearing is to be held on August 31," he added.
--
TOI
http://timesofindia.indiatimes.com/city/nashik/Nashik-builders-register-with-sales-tax-department/articleshow/15578403.cms
-With Regards,
L S N & CO
CHARTERED ACCOUNTANTS
SANTOSH S.SAMDADIYA
PARTNER
D2 A1, SETHICITY PLAZA,
OLD MUMBAI AGRA ROAD,
NASIK-422001, MH, INDIA
CALL: 0253-2501637, 9860621537
--------------------------------------------------------------------------------------------------
The information contained in this e-mail is private & confidential and may also be legally privileged. While the information contained in this document and any of its attachments is provided for the assistance of the recipient, the same should not be relied upon as a substitute for professional, technical or legal advice; unless it is sent after being duly signed by a authorized person in hardcopy. The contents of this mail and any of its attachments are subject to change without notice. If you are not the intended recipient of this mail, please notify us, preferably by e-mail; and do not read, copy or disclose the contents of this message to anyone. Whilst we have taken reasonable precautions to ensure that any attachment to this e-mail has been swept for viruses, e-mail communications cannot be guaranteed to be secure or error free, as information can be corrupted, intercepted, lost or contain viruses. We do not accept liability for such matter or their consequences.
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