Advice on vat and service tax on property

prasad (Querist) 08 October 2012 This query is : Resolved
I have query regarding applicable VAT and Service tax on property.
I have purchased flat in Pune, Maharashtra. Agreement was executed in
July 2010 and I got the possession in 2011.
Can you please tell me the applicable service tax and VAT rates for me?
Builder is telling I have to pay VAT by 5% and Service tax by new
increased rate(I think it is 3.6%).
Please advise.

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R K JAIN (Expert) 22 October 2012
VAT will be applicable in the case of agreement is executed before completion of construction.

prasad (Querist) 22 October 2012
What is the percentage of applicable vat and service tax for this period? I think it is 1% vat and 2.575% service tax?

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