POSTED BY June 27, 2013 10:55 am COMMENTS (2)
ONHi All,
I wanted to understand on how service tax is being charged on under construction flat
The builder of the property we have identified is charging VAT @ 5.5% on the (Basic Cost+Parking+KPTCL+BWSSB+Amenities) and
Service Tax = SUM(Basic Cost+Parking+KPTCL+BWSSB+Amenities *33%)*12.36%
Is the builder charging me right regarding Service Tax and VAT?
Property in Bangalore
Regards
Sashikanta
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Thanks a lot for the Reply.
I will not surrender the property, but if i get any some information about the service Tax and VAT, i can ask the builder to reduce some amount.
KPTCL = Electricity Board
BWSSB = Water supply
Do you have any document or any evidence as How VAT and service Tax will be calculated in a under construction flat?
Do i have to pay the service Tax and VAT of whole property (Basic Cost+Parking+Electricity +Water line +Amenities)
Regards
Sashikanta
Dear Sashikanta, if I say, builder is not charging you fair, ‘ll you surrender the property? VAT & Service Tax should be charge on the basic cost of the flat. I’m unable to undersatnd, what is KPTCL & BWSSB is here.
thanks
Ashal