Dear Sir
Hello. I have recently purchased a flat in Mumbai suburban area. It was ready for possession. The agreement is done in the month of January 14. I have take Homeloan from SBI. The loan process get completed in March and payment is paid to the builder by bank after 20th March. Now in between this process we got the completion certificate in first week of March. We paid around Rs.7,00,000/- before the registration & CC of the flat. The balance amount i.e Rs.24 lacs in paid after CC.
Now my question is whether service tax is applicable to me or not? If yes then on which amount the service tax is applicable.
Total cost of property is 31 lacs
Installment paid to builder before registration, before CC : Rs.7 lacs
Payment done through bank after cc : Rs.24 lacs.
So pl guide us since the builder has charged us service tax on total amount.
Thanks
Madhuri Naik