Service Tax and VAT on under construction residential flats in western suburban VASAI - MAHARASHTRA

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  1. Anil B. Jadhav

    Anil B. Jadhav New Member

    Dear Sir,

    My wife and myself have booked a under construction residential flat in a building at VASAI, a western suburban of outskirts of Mumbai, MAHARASHTRA, on 07-11-2010.
    The flat admeasures 570 Sq.ft. (52.97Sq.m).
    The agreement value is Rs.14,00,000=00 (Rs. Fourteen Lakh only) and is done and registered with the state govt. registrar office at Vasai on 18-03-2013.
    The date of possession of the flat is 15-02-2014, as per the agreement.
    Now the builder has promised to give the possession by the 1st week of MAY, 2016 and asking for the payment of SERVICE TAX and VAT at the time of possession.
    He has calculated SERVICE TAX & VAT as follows,
    ( Agreement Value ) X ( 4.9 % )
    and asked to pay Rs.68,600=00 (Rs. Sixty Eight Thousand Six Hundred Only)

    Sir, we are not aware of exact percentage of Service Tax & VAT and whether they are applicable to us or not and if so then at what rate and on which unit and how much??

    Therefore Sir, I request you to kindly guide me in this regard and oblige.
    If you need further data I shall provide it to you, asap.

    With Regards,

    Anil B. Jadhav
    Vasai -401202
    Cell: 9757413516
    Last edited: May 4, 2016
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