Service Tax discrepancy

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  1. Robin99

    Robin99 New Member

    There is an under construction flat which has been booked by a person I want to buy the property from him.
    The developer has already issued 9 payment schedules with the applicable service tax at different rates since 2014 nov to june 2016 ,of which the purchaser has only paid 4 installments . Now if I buy this flat and pay to the builder the due payments of 1St buyer ,while I have to pay service tax at current service tax rate or the previous service tax which was applicable when the developer issued the payment schedules . Please inform me on the same .
     
  2. ZED

    ZED Well-Known Member

    The previous installments (four) which were to be paid by the person who originally booked the flat, would have included ST.
    That person paid his share of ST and now you have to pay ST on your share.

    ST rate shall be checked at the time of levying of ST. Previous rate will not apply. That rate will apply which is prevailing at the time of invoice.
     
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