After builders lost their case with sales tax depot, letters were dispatched to their customers to cough up the VAT amount.
This was a very wide topic and a large base of middle class home buyers were impacted. There was a lot of confusion around the judgement ( from common man perspective) and lot of speculation of who is going to pay VAT and how much.
The calculation of VAT or VAT issue in itself is a separate topic, but how the media blacked out the advisories or guidelines or any other news that would have benefitted or soothed the common buyer was very noticeable.
All articles related to VAT that used to figure in the news were the statements and warnings from builders and developers to customers (asking them to cough up VAT as soon as possible or be ready of litigations).
For some home owners, who purchased a resale property ( and thus not liable to pay VAT), the warning were to trace the owners from whom the purchased the flats.
I truly hope that real estate regulation bill passes as soon as possible and an appellate body is formed. I wouldn't blame the developers or home buyers or anybody else. But all that was apparent from the whole episode was way news media behaved.
If you felt the same, please share your experience by replying to the comments below.
Disclaimer : I the author of the content that can be found here within can assure you, the reader that any of the opinions expressed here are my own and are a result of the way in which my highly disorganized and somewhat disfunctional mind interprets a particular situation and or concept.
This was a very wide topic and a large base of middle class home buyers were impacted. There was a lot of confusion around the judgement ( from common man perspective) and lot of speculation of who is going to pay VAT and how much.
The calculation of VAT or VAT issue in itself is a separate topic, but how the media blacked out the advisories or guidelines or any other news that would have benefitted or soothed the common buyer was very noticeable.
All articles related to VAT that used to figure in the news were the statements and warnings from builders and developers to customers (asking them to cough up VAT as soon as possible or be ready of litigations).
For some home owners, who purchased a resale property ( and thus not liable to pay VAT), the warning were to trace the owners from whom the purchased the flats.
I truly hope that real estate regulation bill passes as soon as possible and an appellate body is formed. I wouldn't blame the developers or home buyers or anybody else. But all that was apparent from the whole episode was way news media behaved.
If you felt the same, please share your experience by replying to the comments below.
Disclaimer : I the author of the content that can be found here within can assure you, the reader that any of the opinions expressed here are my own and are a result of the way in which my highly disorganized and somewhat disfunctional mind interprets a particular situation and or concept.
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