Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Muthukumar (ff)     10 February 2012

Apartment vat & service tax - clarification help

Dear Sir, I Have Purchased One Apartment Flat & Registered on march 2009 - 200 Sq ft Undiveded at 4 th Floor at Madurai- Tamilnadu,Total No of Houses 24 Flats ,I Booked Flat Rs.21,00,000 in March 2009 under construction apartment,Till Now i paid 17,50,000 to Builder through HDFC Home Loan, Now final settlement time &  ready to occupy this Flat after final settlement of payment ,Now Builder asking to Pay apart from balance amount + addtional 1.5 Lacs for Vat & Service Tax,Please Clarify How Much i will Pay Vat & Service Tax for 21Lacs Value to Builder,is there any Receipt from Govt or Bilder will issue Receipt for this Tax.

Please clarify the Same.



Learning

 2 Replies

Vineet (Director)     11 February 2012

You will have to pay service tax @2.575% of amount paid on or after 1-7-2010 and not the entire purchase amount of flat.

 

Regarding VAT, please consult some local lawyer as the same is state specific.

Muthukumar (ff)     12 February 2012

Thanks a lot  vineet Ji...


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register