SC relief to builders in Maharashtra
New Delhi In a major reprieve for developers in Maharashtra, a division bench of the Supreme Court passed an interim order on Tuesday allowing them to pay value added tax (VAT) till October 31, adding the amount would be refunded if the developers win the case.
The Supreme Court passed the interim order while hearing a special leave petition filed by the Maharashtra Chamber of Housing Industry and Confederation of Real Estate Developers' Associations of India (MCHI-Credai) and Credai-Pune against the levying of 5% VAT by the Maharashtra sales tax department.