Latest Answer: Hi Rayna,
1) For transfers other than in (b) in urban area :- 8% + 25% of duty = 10% on market value of Property
2) For transfer relating to premises in Co-operative Society registered or deemed to have been registered under Gujarat Co-operative Society Act, 1961, by such society in favor of its member or by such member in favour of another member or for transfer of premises relating to Board Constituted under Gujarat Housing Board Act, 1961, or Gujarat House Board Act, 1972 or to which provisions of Gujarat Ownership Flats Act, 1973 apply :- 6 % + 25% of duty = 7.5% on market value of Property.
Q:hi , I have been informed by the builder the as per the new notification of the service tax department , under group housing society , they have entitled to only 70% rebate , on 30% value they are required to pay service tax , means the new taxes in 4.5% (15%*30%) irrespective of the value of the flat , however as per the Govt notification , it should be 25% , and value of the tax would be 3.75% hence please guide me what is correct
Latest Answer: Yes, the new service tax chart would be :- Service tax Basic rate-14%,
Swachh Bharat Cess-0.5%w.e.f from 15.11.2015,
Krishi Kalyan Cess-0.5% w.e.f. from 01.06.2016
Total service tax rate-15%
