Latest Answer: Where did you read or found such information? As per the Maharashtra civic administration, keeping the tax rates steady means residents will not be burdened with an additional expense. Property tax will be as it was earlier.
Latest Answer: I agreed with the Padma. Ready to move in an apartment are exempt from GST. GST is only applicable on under construction House but the owner will get the Input credit only on the construction part.
But since developer have to pay GST on the whole project and he or she will get credit only on construction cost consequently the rates for whether under construction or ready to use house cost will hike on the proportionate basis, in order to link the gap.
Q:What will be the GST on a ready-to-move-in commercial shop from a builder wherein he is still waiting to get the Occupancy Certificate? Can the builder get the input benefit from the government on a deal?
Latest Answer: GST is applicable on properties that have not yet received the Completion or Occupancy Certificate. Ready-to-move apartments will have no GST but the developer will only get input credits on construction costs. Developers will collect and pay GST on the cost of the project.
Q:HiI had purchased a flat in taloja in sep, 2013. Builder has already got occupation certificate from CIDCO in oct,2012. Now he is demanding vat tax 1% from me. Without that he will not give possession to me.. I have already paid other dues. Pls suggest do I need to pay vat tax 1% to builder.
Latest Answer: Hi folks,
Is Vat and Service Tax is applicable on ready-to-move-in property, single residential unit, independent house, villa, bungalow and low cost housing? Should builder issue two separate receipts for both VAT and Service Tax?
Q:I have purchased new flat in Oct 2012 in Panvel,Navi Mumbai.I have paid 20% (4Lakh)amount and made 80 (12 lakh) % loan.i confuse about who's will pay service tax and VAT and how much?
Latest Answer: Hi,
Sir, I need to know regarding Stamp Duty and other charges. like I buy already a Flat now a time to take position so before that i need to make registration so what type of taxes should be paid by me? example stamp duty and what? Appreciate your immediate response.
Q:Hi, I purchased an under construction flat in Jan-13, i have already paid for st.duty, registration, service tax, VAT. The possession is scheduled for Jan-14 but i wish to sale this and buy new property. If i resale it, what all taxes will be applicable. Builder has not yet put his paper for OC.
Latest Answer: Hi Priyata, As far as i know you only have to pay capital gain and the buyer will have to pay stamp duty, registration charges, service tax again. To be on the safer side it is better to take advice from some legal expert.