Service tax on flat

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  1. Vsingh17

    Vsingh17 New Member

    Hi,

    I have purchased a flat that was under construction in month of June 2016 and flat will ready for possession in Jan 2017.
    Can I know what is the service tax and vat tax I have to pay. My flat price is 25lakh.
    Builder is asking for 4.5% and I have ready on multiple website it is 3.75% .

    Can you please confirm what is the current service tax I have to pay???

    I have attached a image of the calculation.
    Left side is the service tax calculation they have done that is 4.5.

    Thanks in advance
     

    Attached Files:

  2. Shivangi Garg

    Shivangi Garg Member

    Sir,

    If the carpet area of flat is over 2000 sqr ft. OR price over 1 crore then service tax is chargeable @ 4.5%.

    If your flat carpet area is less than 2000 sqr ft. then ST should be charged at 3.5% (since your flat price is less than Rs. 1 Crore).

    Thanks
     
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