Q:I have bought a new flat in Hyderabad, Telangana. At time of registration I have paid 3.08 % service tax and 1.25% VAT. After that at every installment i release I am paying 5% of VAT and 3.08% service tax. Is this correct ? I somehow feel builder is collecting more VAT.. Please do anyone have any idea about VAT to be paid after every installment release?
Q:I have booked a flat in Bangalore. Now the builder is asking me to pay the VAT and Service taxes. I heard VAT is 5% and Service tax is approx 2.5%. I would like to know how the VAT and Service taxes are calculated
Latest Answer: I will ask you to approach a chartered accountant to determine what the builder is demanding in place of the same is the correct amount or not. Otherwise you can not completely escape without paying it.