5% Vat to be levied on flats bought between 2006 & 2010

The Maharashtra Govt has decided to collect VAT (Value added tax) from home owners who bought their under-construction homes directly from builders between June 2006 and March 2010.The value of VAT has been decided as 5% of the total agreement value. This amount will have to be paid before August 31st. Eg: A buyer who…