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Taxes on sale agreement and construction agreement

Q: We have recently purchased a flat in hyderabad for a cost of 50 lakhs + stamp duty and applicable taxes.

for the same we have entered into 2 agreements, registration document for 32 lakhs and construction agreement for remaining 18 lakhs.

under the stamp duty and applicable taxes account, builder gave me the following breakup.

Please let me know whether this breakup is right or not and how can I know whether the builder has paid them correctly to the govt.

under deed value:

Stamp duty @ 6% = 192000

Reg. duty/ VAT @ 1.25% = 40000

Service tax @ 25% of 14% = 3.5% = 112000

Total 344000

for construction agreement

VAT = 5% = 90000

Service tax @ 40% of 14% = 5.60% = 100800

Total 190800

Grand total 534000

Thanks in advance.

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Replies (1)
1
Hi ravi I dont think there is any issue in this breakup but if you are feeling any hesitation then take help of a reputed lawyer to know about the legal aspects of the order and what is mentioned in your property agreement.
Dhananjay


2

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