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what is the exact rate of VAT applicable for under construction flat, in Bangalore?

Latest Answer: As far as i know when you buy a flat you buy two things from the builder 1. Undivided Land of Share and 2. The flat. Both VAT and Service Tax (As on Jan 2013 ...Service Tax @ 12.36% on 25% of BASIC Price ( if Land Cost is included ) otherwise 12.36% on 33% of Basic Sale price ) need to be paid on basic selling price of the flat and not on Undivided Land of Share.
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