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Flat owners' association to protest VAT in
Maharashtra
Monday August 27, 2012 10:46:17 PM,
IANS
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Mumbai: Harried
property buyers in Maharashtra have formed an action committee to
protest against the proposed collection of VAT arrears by the
state government for all kinds of properties bought between 2006
and 2010, a representative said Monday.
Seeking to fight the vexed Value Added Tax on properties in
Maharashtra, a consumer group called FORAM - flat owners' rights
protection action committee in Maharashtra - has been formed with
consumer interest groups coming together.
FORAM will mobilise public opinion against the VAT on flats sold
between 2006 and 2010 which has come like a bolt from the blue,
said Atul Puranik, convener of the committee.
"As it is, the common man is burdened with a series of taxes and a
homer buyer has to pay even much more in terms of service tax,
stamp duty and registration and now the VAT," Puranik told media
persons here.
Maharashtra residents who purchased property between June 2006 and
March 2010 will now have to pay a VAT of five percent, along with
an interest of 15 percent per annum and 25 percent penal interest,
said an official of the Confederation of Real Estate Developers'
Association of India (CREDAI).
He explained that the Maharashtra Chamber of Housing Industry had
challenged the state government's move in 2009, but it lost the
case in the Bombay High Court.
The sales tax department had then issued orders and made it
mandatory for anyone who bought a property between June 20, 2006
and March 31, 2010 to pay the higher VAT.
Puranik, however, said there is no justification for levying taxes
on the material used in housing since all these items are
subjected to sales tax. VAT, actually, amounts to double taxation,
he said.
FORAM aims to mobilise public opinion from all over Maharashtra
with support from district level committees and raise their voices
against VAT. The committee will appeal to the government to scrap
the tax altogether for flat buyers.
Many consumer rights activists and advocates have promised to lend
a helping hand to the anti-VAT drive.
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