Hello Experts,
I had purchased a flat in Hyderabad one year ago. I purchased the flat in semi finished condition from the LAND OWNER. Meaning,the flat that I purchased was under the LAND OWNER's share and NOT the builder. I would like to know if I am liable to pay service tax as I have purchased the flat from the Land owner (individual).One of my friends told me that if one buys flat from an individual than there is no liability of paying service tax ! Service tax liability arises if one buys flat from the builder.
As I am unsure about the above, thought of asking for the opinion from the experts in this forum. Please advise me on the above ASAP.
Thanks, Sandeep Chakraborty