Applicability of taxes

Rahul Khemkar (Querist) 10 December 2014 This query is : Resolved
Respected Sir,

In case of resale of flat in Maharastra , who is liable to pay following taxes on market value or sale value
1.Stamp Duty 5%
2.Registration fee 1%
3.Service tax 3%
4.LBT 1%
5.MVAT 1% applicable or not?

Can seller pay the above taxes please guide me.Property is 4 years old and located in vasai Thane.Thank you in advance.

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ajay sethi (Expert) 10 December 2014
it depends upon agreement between parties . stamp duty registration charges etc would be payable by buyer . transfer charges to society by seller

Rahul Khemkar (Querist) 10 December 2014
Thank you sethi sir,

Sir, what about Service tax 3.09% and Local body tax (Municipal tax) 1% Is MVAT applicable in resale.

Devajyoti Barman (Expert) 10 December 2014
For resale of flat service tax is not attracted.

Shailesh Kr. Shah (Expert) 10 December 2014
rightly advised by learned expert sh. devajyoti barman.

Rajendra K Goyal (Expert) 10 December 2014
Agree with the experts.

R.K Nanda (Expert) 10 December 2014
no more to add.

Rahul Khemkar (Querist) 11 December 2014
Thank you all expert
Conclussion of my question is as follow
1.Stamp Duty 5% applicable.
2.Registration fee 1% applicable.
3.Local Body tax 1% applicable.
4.Service tax 3.09% not applicable.
5.MVAT 1% not applicable.

If i am wrong, please advice.
Regards,

ajay sethi (Expert) 11 December 2014
VAT and Service tax are not applicable on resale flats.

Guest (Expert) 11 December 2014
Better Consult your CA and Get it Confirmed.

Shailesh Kr. Shah (Expert) 11 December 2014
items mentioned at serial number 4 and 5 is no applicable on re-sale.

V R SHROFF (Expert) 11 December 2014
Transfer fee of Flat is negotiable. either 50-50 % by seller/ purchaser or 10% by purchaser is common practice, to be decided at the time of dealing..

stamp duty regn other exp by purchaser only.