Insolvency and bankruptcy Law 2016, has categorised the home buyers debt as financial debt to the real estate company/builder and therefore, homebuyers can claim their dues as bank claims its debt.
The officials of the UPRERA Authority have decided not to encourage refund if the project is not stalled and have the potential of getting finished and delivered.
The RERA authority of Maharashtra ordered a builder to refund an amount of Rs. 1.8 Crore to a homebuyer because after the passage of two years the builder failed to register agreement to sale and had already charged 30% of the price.
The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.
The RERA authorities of the Various State are not granting refund looking into the wider interest of the Real Estate Sector.
The RERA ordered the builder to refund the entire principal amount along with interest of 15% per annum to be compounded quarterly from the dates of deposit to the date of refund should be refunded in three instalments by the company
The delay in projects got converted from months to years shattering the dream of owning a home of many homebuyers. A detailed article on how to get refund from the builders under RERA.
The Maharashtra RERA in its ruling shed some light on the refund of booking amount as in its order the authority directed the developer to give back the booking amount.
Goods and Services Tax (GST) was enforced this year in July. Since there was no proper infrastructure to support the GST regime
The industrialists in Tirupur are still facing a hard time in filing Goods and Service Tax (GST) refunds in GST portal. Recently, the union government has provided the provision for the GST refund on the website. The industrialists could update details about the GST payments they made and seek the refund. The Tirupur Exporters Association … Continue reading “Filing GST Refunds give a hard time to Industrialists”
Importers of food i.e. unsold inventories of imported chocolate, confectionery and cosmetics, which attracted 28% Integrated Goods & Services Tax (GST) during inbound shipments will now be a retailing tax of 18%. They can now claim refunds on excess GST but also have to submit proofs. The reduction in GST rates for products imported at a higher … Continue reading “Good news for importers of food, cosmetics will get refund on excess GST”
Last month the Central Board of Excise and Customs (CBEC) started Goods and Services Tax (GST) refunds for exporters who have paid Integrated GST (IGST) and have claimed refund based on shipping bill by filling up Table 6A. Earlier this month, it allowed businesses making zero-rated supplies or those who have paid IGST on exports … Continue reading “10,000 Applications filed for GST Refunds by Exporters”
Maharashtra Real Estate Regulatory Authority (MahaRERA) laid off a complaint of a home buyer seeking refund of his money after he cancelled the booking on his own. The homebuyer booked a flat in Thane (W), Mumbai and later on cancelled the booking on his own. The buyer is now claiming for a refund. The respondent … Continue reading “If homebuyer cancels the Booking, Developer will not be liable for Refund”
From this week, exporters who paid Goods and Services Tax (GST) can claim for refunds for the month of August and September. As per Chief Executive, GST Network (GSTN) will launch separate online application this week for claiming Integrated GST (IGST) would be made available from this week. This app is developed wherein exporters can … Continue reading “Exporters who paid GST can claim for Refund This Week”
A proposal to refund central goods and services tax on items made in formerly excise-free zones in Himachal Pradesh, Uttarakhand, and the North-East is set to be presented to cabinet. The move will benefit companies such as Cipla, Dabur, Dr. Reddy and TVS Motor that invested in those areas because of the tax break. Such … Continue reading “Proposal To Refund Central GST on Goods Made In Excise-Free Zones”
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