Latest Answer: Yes, and don't forget that For apartments with carpet area of more than 2000 sq ft or for property valued ₹1 crore or above, service tax is levied on 30% of the cost of the property. This takes the service tax to 4.2% for such properties. However, service tax is levied on the entire amount on other cost items such as Preferred Location Charges (PLC), Floor Rise Charges (FRC), initial maintenance charges and club-house etc. In all these cases service tax is standard – 14.5%.
