VAT and Service tax calculation for apartment in bangalore

Q: My builder is charging VAT @14.5%
Service Tax @ 15%

Property is in Electronic City Phase-1

What is the current rate going on.

Piyush,

27th September 2016

Legal in MJR Clique Hercules, Electronic City Phase I, Bangalore

vat & service tax for under construction property

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I had heard a lot about the HT wires in the project. In order to check the authenticity, I visited the property myself and saw that there is a high tension line with 5 towers within the complex – goes by the eastern and northern sides. There is going to be a gap of 30-60 feet between the high tension line and the building, the distance varies from block to block.
Propsurf

Jigna Maheshwari,

5th October 2016

Comment

I have read an article about Service Tax and VAT recently so though of sharing the link with you. Have a look and I hope this will help you to some extent http://www.quikr.com/homes/blog/know-all-about-service-tax-and-vat+76

Tamana Chopra, Bangalore

28th September 2016

Comment

As far as I know, Service Tax is Calculated 12.3% of the 40% Portion of the Total Cost and Vat is 5% on Total Value. I would suggest you to cross check once with a legal expert.

Vivek Kulkarni,

28th September 2016

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