vrmaram, Apartment Resident
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VAT & Service Tax on new Apartment in Bangalore
Q: Hello, I purchased new flat (under construction flat) in Bangalore in June 2011. Basic cost of my flat is 30Lakcs. And 1.5 Lacks for Car Parking. Total basic cost is 31.5 Lacks. My Builder charged me 5% of VAT on 31.5 Lacks (Basic Cost of Flat + Car Parking Amount). My Builder also charged me 2.7% of Service Tax on 31.5 Lacks (Basic Cost of Flat + Car Parking Amount). Do I need pay both VAT and Service Tax to my builder? Do I need to pay VAT? If yes, as per Govt. norms how VAT I need to pay to my builder? As per Govt. norms how much Service Tax I need to pay to my builder? Please advise. Thanks, Venkat.

Latest Answer: I am buying flat but bit confused after seeing your data. Here is the details what my builder charging for me: Total sqft: 1253 and p/qft cost: 3000: 1253*3000 = 3759000 Club house: 218500 Car Parking: 300000 Service Tax 15%: 268000 Vat: 153000 BESCOM: 238000 Yearly maintenance: 43000 Legal charges: 35000 Please let me know if anything is wrong here.

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