Service Tax for house value less than 1 crore

Share
Share This Thread
  1. ASHISH PADHY

    ASHISH PADHY New Member

    Hi All,

    I know its a redundant query but my building developer CA is insisting that after the 2016 Union budget there is a flat 30% of the total service tax to be paid as service tax. I bought a flat worth 70 lakh. I researched and found that the service tax component should be 3.75% i.e. 25% of 15% but he keeps on saying that it is 4.5% i.e. 30% of 15%. Is the 1 crore condition removed in the current budget ? What % of service tax should i be paying ?

    Thanks
    Ashish Padhy
     
  2. Karan Batra

    Karan Batra Well-Known Member

    If value of flat more than 1 Crore - Service Tax Applicable is 4.5%
    If flat size is more than 2000 sq ft - Service Tax Applicable is 4.5%

    If any of the above condition is satisfied - service tax applicable is 4.5%

    In all other cases - the service tax applicable is 3.75%
     
  3. Rammohan7

    Rammohan7 New Member

    It is 4.5%from June 2016considering 15% service tax and 70% rebate
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Service Tax upon under construction house in 2016 GST Jun 1, 2017
Service Tax on Residential House given on Rent to Company GST Sep 25, 2016
Service Tax refund on house property GST Aug 2, 2016
service tax calculation for underconstruction house GST Jun 16, 2016
service tax on guest house GST May 16, 2016