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Kranthi M (Consultant)     31 March 2013

Service tax on flat

Hi,

 

I bought a flat in Hyderabad for total worth of 3417825 INR which is including amenties,car parking etc.I booked it in Septemeber 2011 and 20 Lakhs as loan from HDFC.The builder is asking me to pay the service tax Rs 105616 which is 3.09% on total flat cost.

I ahve few queries

 

1.Service tax on total flat cost?

2.As service tax rule was started in 2012 and I booked in 2011.Shall I need to pay the service tax on total flat cost?

 

It will be great if someone helps me on this..



Learning

 1 Replies

Infradoctor (Buy and Sell Properties Online)     01 April 2013

The general rate of service tax is 12.36% on total flat cost? The fact is that service tax effective amount payable by developer  is reduced and this benefit must be passed on to the buyer by reducing the rates of the Buildings etc.
 


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