SC extends deadline till Oct 31 for payment of VAT by realtors

SC extends deadline till Oct 31 for payment of VAT by realtors New Delhi: The Supreme Court on Tuesday extended the deadline for payment of VAT for the real estate developers in Maharashtra by two months to October 31.

A Bench headed by Justice R M Lodha also gave a partial relief to the developers by staying the Bombay High Court order by which they were directed to pay the penalty and interest on the tax.

However, the bench, also comprising justices A R Dave and Ranjan Gogai refused to the stay the order of the High Court which had upheld the circular issued by the state government for the implementation of the provisions of the VAT.

According to the provision the developers have to register themselves with the Sales Tax Department and pay the arrears.

The earlier deadline for VAT payment was August 31.

PTI