Service tax on property


Dear sir

i have purchased a penta house for rs. 62 lakh and paid a booking amount of rs. 9'31524 rs. 46,57,920/- after 45days of booking,. Re.3,10,508/ after six months and rest on completion please tell that how much of service tax should i pay in total.

thanks

rajesh

,

 
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Lawyer in Hyderabad.wats app no.9989324294

Service tax will be applicable for only under-construction properties and not for completed units.

 
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Advocate

Yes Mr. Ramachary is right in his opinion that the service tax will be applicable  for the property being constructed and not for buying the completed unit.

 
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Voluntarily Retired from Indian Overseas Bank

DEAR MR. RAJESH 

                                 AS FAR AS I READ IN THE NEWS PAPERS SERVICE TAX IS PAYABLE BY THE BUILDER ONLY . THIS SERVICE TAX FOR BUILDERS WAS INTRODUCED ONLY RECENTLY BECAUSE THE GAIN IN CONSTRUCTION WAS MORE THAN 25% .FOR PAYMENT OF SERVICE TAX THE BUILDERS ARE CHARGING 2% OVER AND ABOVE THE VALUE OF THE PURCHASE PRICE . YOU CONFIRM WITH YOUR BUILDER WHAT IS PURCHASE PRICE OF THE FLAT AND ASK HIM TO GIVE THE BREAK UP . YOU HAVE ALMOST PAID 50 LACS OUT OF THE 62 LACS OF THE COST OF THE FLAT . WHAT IS THE INTEREST FOR THAT AMOUNT . NORMALLY THEY SHOULD NOT COLLECT SO MUCH AMOUNT BEFORE COMPLETION OF THE FLAT . YOU VERIFY IN THE CENTRAL GOVERNMENT WEBSITE THE GUIDELINES . EVERYTHING IS GIVEN IN THAT . SERVICE TAX IS TO BE PAID BY THE BUILDER ONLY . NOT INDIVIDUAL BUYERS . IF INDIVIDUALS HAVE TO PAY SERVICE TAX MEANS THEN THEY HAVE TO GET A SERVICE TAX NUMBER FROM THE CENTRAL EXCISE DEPARTMENT .  YOU VERIFY THIS IN THE CENTRAL EXCISE WEBSITE FOR DETAILS - JOSEPH WILFRED - 04/03/2014 AT 23.37 HRS

 
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