Is Service Tax payable for a new flat purchased for less than 20 Lac?

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  1. Amitabha Ray

    Amitabha Ray New Member

    Is Service Tax payable for a new flat purchased for less than 20 Lac?
     
  2. Neha Sharma

    Neha Sharma Active Member

    Yes, Service Tax would be levied irrespective of the purchase price if it is an under construction building.

    However, for flats below Rs. 1 crore - the rate of Service Tax would be 3.09% and for flats above Rs. 1 Crore - the rate of service tax would be 3.71%
     
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