Builders in Pune Refuse to Pay VAT - Value Added Tax (MVAT)

81 views
Skip to first unread message

Ravi Karandeekar

unread,
Feb 23, 2013, 10:18:25 PM2/23/13
to ravikarand...@googlegroups.com
 Many developers in Maharashtra did not follow the October 31, 2012, deadline to register and pay valueadded tax (VAT) for 2006-10 despite a Supreme Court rap.
 
    Government officials said 5,257 developers registered as dealers for that period with the sales tax (ST) department. But about 2,200 developers, mostly from Pune, have not paid VAT, while over 500 have shown nil returns. Against the expected target of Rs 1,000 crore, the department collected over Rs 650 crore from the remaining over 2,000 developers. 

    The officials said the department will take action against some developers to recover the dues.

The department’s move, when it happens, will be the second time in seven months that developers have been raided for defaulting on VAT payments. “Many developers felt the government would reduce their tax liability from April 2006-April 2010 at par to liability paid by developers post-April 1, 2010. So they did not pay it.” Read More



Reply all
Reply to author
Forward
0 new messages