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Real Estate Forum on Property Tax in Sainikpuri, Hyderabad

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I purchased a flat for 50 lakhs & made 2 agreements-sales(25 lakh) and construction agreement(25 lakh).
Q: I registered only agreement of sale & sales deed is made for 25 lakh only and paid taxes(VAT, Muncipal etc.) on it other than service tax.
My questions are :
1. Do I have to register the construction agreement also ? If yes, what are the taxes on it and their rates?
2.Will there be any penalty for late payment of service tax? for agreement of sale? If yes, how much?
3.What is the rate of service tax?

Latest Answer: Service Tax is 12.36% on 25% of BASIC Price ( if Land Cost is included ) otherwise 12.36% on 33% of Basic .
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