Friday 31 August 2012

AGREEMENT CUM AFFIDAVIT FOR PAYMENT OF VAT


SPECIMEN AGREEMENT CUM AFFIDAVIT
To be submitted on a Rs. 100 non Judicial Stamp paper and duly Before Me Notarize by a Notary Public with Notarial Stamp of Rs.25/-

AGREEMENT CUM AFFIDAVIT
[DELETE whichever is not applicable]
I/We_____________________________ son/daughter /wife of______________________ resident of _______________________________ . Party of the First Part- BUYER.

I/WE __________ Partner of M/S _______ BUILDER/DEVELOPER having Reg. Office address at ___________. Constructed the ____________ Co-Operative Housing Society. Party of the Second Part- SELLER

WE do solemnly declare and affirm as follows.

1.      That Mr./MRS.  _________  are  the Owner of the Flat/Shop/Garage  No._____________  on the _____ Floor in the ____________ Co-Operative Housing Society having address __________________ and is Register under MCS ACT 1960 having Reg. No._____________ dtd. _______.[now onwards referred as “Said Property”]

2.      Mr./MRS  __________ purchase the above Property from M/S ____________ Builder/ Developer on _______ duly Reg. Agreement executed between us having Reg. No. _______ dtd. ______ register at SRO Office _______


3.      As per Builder CA Latter which is attach here with for reference. As per all 3 Scheme/Method which is given in the VAT Circular dtd 06/08/2012 the VAT amount for the above Property is shown in the said latter Mr./MRS ____________  pay the VAT Amount as per Option No. ___________ [fill the any 1 of the 3 option given in the circular which is having minimum amount] that VAT Amount is as per this options is RS. ________  .

                                             OR

 As per Builder CA Latter which is attach here with for reference. As per all 3 Scheme/Method which is given in the VAT Circular dtd 06/08/2012 the VAT amount for the above Property is shown in the said latter Mr./MRS ____________  pay the VAT Amount as per Option No. ___________ [fill the any 1 of the 3 option given in the circular which is having minimum amount] that VAT Amount is as per this options is RS. ________  . Out of which the RS. ______ is already paid  to builder in advance by way of  other expense/charges such as Society formation charges , Conveyance Deed Charges , Electricity Charges & Deposit Charges . So now RS._______  -   RS. ________ = RS. _____ is balance amount for VAT.


4.      Payment of VAT AMOUNT OF RS. __________ by Cheque No. _______  Bank _______  dated _______  for the above property.

5.       MR. /MRS. _________ also agree that in any difference rise by Sale Tax Dept. about this VAT Payment in writing to the BUILDER/DEVELOPER they will immediately pay the same to the BUILDER/DEVELOPER OR Sale Tax Dept. on receiving the notice for the said property.

6.      M/S  ___________ BUILDER/DEVELOPER agree that if any refund received by the Sale Tax Dept. about this  VAT  for the above Said property then they will  immediately pay the same to the BUYER.

This is maid on the _____ day of ______ year 2012 at ________


Witness:-

Sign:-                                                                      sign of buyer:-

Name:-                                                                     Name:-
Address:-                                                                 photo & left Thumb:-


Witness:-

Sign:-                                                                      sign of Builder/Developer:-

Name:-                                                                     Name:-
Address:-                                                                 photo & left Thumb:-


BEFORE ME



NOTARY.

Thursday 30 August 2012

MY VIEW ABOUT PAYING THIS VAT FOR PERIOD 20/06/2006 TO 31/03/2010

My personal view about paying this VAT is as follow.

Firstly this is very clearly that VAT has to pay on the FLAT/SHOP/GARAGE/STILL PARKING  PURCHASE from BUILDER/DEVELOPER from the period 20/06/2006 to 31/03/2010. The only question is who to pay i.e. Builder or Buyer/Owner of FLAT/SHOP/GARAGE/STILL PARKING. As per my experience No BUILDER/DEVELOPER can pay this they will pass this VAT to owner by sending demand notice to them.Remember that Govt. ask VAT from BUILDER/ DEVELOPER they suppose to pay this not you. If any action taken by Govt. then it will be First on BUILDER/DEVELOPER not on buyer 

As per SC order last date for payment of this VAT is 31 Oct 2012.

Now process step to follow before paying VAT to BUILDER/DEVELOPER

1. a]  Read /check your Agreement carefully that you have pay the VAT at the time of Registration of Agreement (go through various break up detail for various charges given by builder ) if you have paid then do not pay it again OR if you have paid it separately then inform the builder that you have paid it.


b]  Read /check your Agreement carefully that is their any clause written in agreement that you have to pay the VAT if Govt. ask the BUILDER to pay at any time. If not written and your building get Occupancy Certificate then inform the builder that as per agreement you do not have to pay the VAT.


2. If you have not paid this amount and if you received the notice then,

 a] In the Agreement BUILDER/ DEVELOPER take various charges Like Society Formation Charges, Electricity Meter/Transformer Charges , Conveyance Charges , Deposit Money. After 60% of total  flat are sold by builder, it suppose to register the Society and after Society register within 4 months builder suppose to executed Conveyance Deed in favour of Society as per MOFA AGREEMENT .
   Many builder does not do this .Ask builder first execute Conveyance Deed in favour of Society [if it is not executed ] then you will pay this amount.They do not give the actual expense detail of the Society Formation Charges, Electricity Meter/Transformer Charges , Conveyance Charges , Deposit Money. Ask the builder to provide Certified Audit Report from CA regarding this expense.
 After receiving this Report if builder take more charges from you then adjust the extra amount taken by him to VAT amount and pay him remaining amount to builder.

b] Ask BUILDER/DEVELOPER to provide on their CA Latter how much you have to Pay VAT amount in all 3 Scheme / Method [which is in point no 16 in FAQ on pg no 9 of circular post on this blog] for each flat separately  in writing along with their sign of CA on the latter and pay  the minimum amount out of this 3 Scheme / Method as VAT amount and inform the BUILDER that any difference rise by Sale Tax Dept. Maharashtra in writing regarding this payment will be pay buy you. Since Sale Tax Dept. give you 3 type of choice to pay this VAT so pay the minimum amount.

Make Affidavit  on RS. 100/- Stamp Paper between you and builder that you have pay the VAT amount  write Chq. No. ,Date and also write than any difference OR excess  will come will be paid OR refund by both party each other .Attach CA Latter for payment of VAT detail.  Affix photo of both sign them and make it BEFORE ME NOTARY.

c] Ask the Nearest  Help Desk Officer of Sale Tax Dept. whose Name, Phone No. , Email id given on pg no 4 of circular post on this blog  that how much you have to pay the VAT OR VAT amount given by BUILDER  CA is correct or not. You may also send other related query about this VAT to them

3. Ask your Society to contact the Housing Society Federation [dist./taluka Level where you society is member]  if any remedy action OR Federation file any PIL in Court about this VAT Payment.
 

I post the Affidavit Specimen shortly . Hope this will help you.If you have better solution please share it.

CIRCULAR IS BY SALE TAX COMMISSIONER MAHARASHTRA FOR PAYMENT OF VAT ON BUYING FLATS/ SHOPS FROM BUILDER FOR PERIOD 20/06/2006 TO 31/03/2012










Sunday 19 August 2012

Duties & Responsibilities of Annual General Body


As General Body is supreme Authority of Society so every Managing Committee should conduct 1 AGM in each financial Year. General Body gives authorities to Managing Committee for day to day management as per Bye-Laws. But all Powers are not given to Managing Committee. Certain important key decision are taken by General Body Only they are as follow.-

The Annual Meeting, its Notice and its business to done is as follow:-

•    To hold Annual General Body Meeting [AGM] on or before 14th August of every   
            Year i.e. 136 days after the end of Accounting Year.. If not possible to arrange the.
           meeting up to 14th August then taking  permission from Dy./Asst. Registrar of C.S.
           which will not be more than 3 Months

       To give Advance 14 days clear notice before conduct
             AGM and give Accounts statement regarding business to
       be done in meeting to each member of Society along with
             Notice Agenda of the Meeting.

  •       To take review of the minutes of last Annual meeting  [AGM] and special
            meeting [SAGM] and action taken on it and finalize the same.

       To accept and approve the last years income and expenditure statement presented by the managing committee similarly information of reconciliation and their working report.

      To  take  note  of  the  last  years  audit  report  and  similarly  approve  the rectification report presented by the managing committee.

       To  take  decision  regarding  land  of  the  society  and  conveyance  of  the building and to approve draft deed and issue notice to Land Owner and Builder regarding execution of  Conveyance Deed in favor of Society by Speed Post OR Register Ad.

       To  give Power to Managing Committee for Execution of  Conveyance Deed in favor of Society and change all record such as 7/12 , Property Card , Municipal Property Record, Water Bill , Electricity Bill etc in the name of Society. .

       To declare the election Time Table for New Managing Committee in AGM

     To declare the result of the election of managing committee if the Annual general meeting held earlier.

      To introduce new member to all member of Society who get membership by Transfer of Sale Deed i.e. Flat resale and to confirm the Transfer done by Managing Committee and giving membership to new member in the society and issue allotment Latter as per appendix-12 in Bye-Laws of Society.

       To introduce new member to all member of Society who get membership by Death Transfer i.e. Nomination Transfer and to confirm the Transfer done by Managing Committee and giving membership to new member in the society and issue allotment Latter as per appendix-12 in Bye-Laws of Society.

       To appoint the auditor from the registered panel available with co-operative department for current year.

       To  take  decision  by  discussing  on  the  proposal  regarding  expulsion  of members.

     To take decision by discussing on the proposal regarding the adoptions of New Model bye-laws and approve the same.

       To take decision on the rate of contribution regarding maintenance fee, maintenance and repair fund and sinking fund etc.

     To determine the interest rate to be charged on the members defaulting in paying societies maintenance not more than 21% of Simple Interest.

       To decide about parking and determine its rate

     To take decision about penalty to be charged on members, violating by-laws of the society and to determine its amount.

       To take decision about penalty to be charged on members, who do not attend the society AGM and to determine its amount

       To take decision about utilization of sinking fund.

       To determine the amount of remuneration to be given to a member if he/she has got ended his/her services to the society.

       To approve the expenditure of major repairs.

       To recommend for giving membership again to the expelled member by the society.

       If all the members of the managing committee tender their resignations then
to put them before the annual meeting and approve.

       To give sanction to the amount to be written off.

       If  more  expenditures  than  the  limit  stipulated  in  the  bye-laws  is  to  be incurred  and  to  approve  the  tender  by  putting  before  the  general  body meeting.

       To appoint the Structural auditor from the registered panel available with Municipal OR PWD department for Structural Audit of Society.

       To give approval for the appointment of Architect and similarly to give approval of terms and conditions to be executed with that.

       By considering available space for playing in the societies premises, to determine the time table for members and their children or put restrictions on them and if violated to take decision regarding charging penalty.

     To determine terms and conditions for utilizing vacant place and also terrace of the society and fix the rate for use.

       To determine and take decision about other rule suggest by Managing Committee or any other Member of Society for Society Management/ Working OR betterment of Society and get approve from Dy./Asst. Registrar of C.S.

       To form complaint redressal committee on the level of the society, so that if any  member  having  complaint  against  the  working  or  decision  of  the managing committee, then by solving it on the societies level, it concluded through complaint  redresseal committee

      Only following subjects should be discuss in detail in the Annual General Body Meeting of the Flat owners.

1.      Development of the land.
2.      Procedure to be adopted for transferring land e.g. Surrender of lease,  lease deed,          Property  management on commercial basis for e.g. office, sports complex, play ground, garden etc.