Hi,
I have bought a under construction property and the agreement was registered in Nov 2012. My down payment amount was paid to the builder before the registration and later the loan amount was paid by the bank as per the banks schedule.
Now builder is demanding 18% interest on Service tax & vat payment from the date of agreement. What he is saying is this interest charges are to be paid to the government. However he will not be providing any govt. receipt for this payment , but will provide his own receipt.
I have not made this payment to him yet. But without this, he wont give possession.
Is this interest charge valid? Is there any legal info to question the builder on the interest charges?
Thanks,
Sachin