vrmaram, Apartment Resident
Posted Discussions
Posted Replies

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.

My replies to this discussion
I heard that 5% of VAT was as per BBMP, but Service Tax should be much lower than 2.7%.I heard that 5% of VAT was as per BBMP, but Service Tax should be much lower than 2.7%.
Ask a Question
120 Characters Left





    Trending Categories

    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!