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VAT Letter from BPTP Princess Park

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Community forum for members of BPTP Princess Park, Sector 86, BPTP Parklands, Faridabad

VAT Letter from BPTP Princess Park

Postby naveencha » Thu Nov 10, 2016 12:46 pm

Received an email from BPTP Princess park regarding "demand letter for VAT" . Not sure what VAT is this , Anybody else received the same. ? As i am second buyer of the property and don't know about these VAT charges , Please guide me about next steps .

Letter says:

Subject: Billing of value added tax ("VAT") under Haryana Value Added Tax Act, 2003 ("Act") on sale of constructed property be it a residential or commercial constructed property in pursuance of Amnesty scheme recently introduced by Haryana Government.

This is with reference to our earlier communication sent to you in 2015 regarding the applicability of VAT under the Act on sale of constructed property (residential or commercial) and recovery of VAT thereon pursuant to the judgement of the Hon'ble Supreme Court of India in the case of K. Raheja Development Corporation Vs. State of Karnataka (2005)-141-STC-298(SC) and further upheld by larger bench in case of Larsen and Toubro Ltd vs State of Karnataka.

In this regard, we would like to inform you that the Government of Haryana has notified an amnesty scheme vide (Notification No.19/ST1/H.A.6/2003/S59A/2016 dated September 12, 2016) ("VAT

Amnesty Scheme") to deposit a lump sum amount @ 1% of the entire sale consideration. Further, a surcharge at the rate of 5% shall also be payable on the aforesaid amount, which together totals to 1.05% of the total sale consideration. The VAT payable under the VAT Amnesty Scheme is in lieu of tax, interest, penalty, charged or chargeable, under the provisions of the Act. The VAT Amnesty

Scheme is available for the period up to March 31, 2014.Basis the booking application form / flat buyer agreement for the Unit, the entire sale consideration comes out to Rs. 2,727,971.32 /- (Twenty Seven Lakh Twenty Seven Thousand Nine Hundred Seventy One Rupees Thirty Two Paise Only). For the said Unit the Company has received an amount of Rs. 2,727,971.32 /- (Twenty Seven Lakh Twenty Seven Thousand Nine Hundred Seventy One Rupees Thirty Two Paise Only) till March 31, 2014. Please note that the VAT liability for the collections received (if any) after March 31, 2014 will be intimated separately later on as per the rates computed at that time.

We, request you to deposit a sum of Rs. 28,643.70 /- (Twenty Eight Thousand Six Hundred Forty Three Rupees Seventy Paise Only) in the below mentioned bank account of the Company or pay by cheque in favour of BPTP Ltd. payable at New Delhi towards the aforesaid VAT liability by 25.11.2016.
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