I have purchased a new flat registered on Jan 04th 2014 through a joint venture like Land owner and builder built a building. I bought my flat from the land owner from his share of houses. Land owner do not possess a construction company and not providing any service. I bought the house when it is ready to occupy and its under Tamil nadu state.
Under these circumstances do I need to pay service tax?
If yes then May I know the correct percentage of service tax? In which how much buyer has to pay? and seller has to pay?
How do I ensure that my property does not come under service tax liability?
Is there any constraint that buyer has to pay service tax only to seller as mandatory and service tax has to be paid through seller account to government??
Is there any mandatory rule that buyer has to pay the service tax to GOVERNMENT/Seller through liquid cash? if no, what are all the payment modes we can use to pay the service tax?
Is there any last date to pay the service tax?
Is there a way to get grace time to pay the service tax?
Do we have any penalty structure for those who pay service tax after due dates?
Kindly help me to know these basic details.
Regards,
Hari.A
