kumar, Hyderabad
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How is service tax calculated?
Q: How will be service tax calculated on new apartment (under construction) in Hyderabad area and where should we pay service tax? for example, if I am buying a flat in Hyderabad of area 1500 sft @ 45 lacs including parking and amenities like electricity, water, lift, generator etc.

Latest Answer: Yes Kumar, 2% has been increased on service tax this March. So it will be 12.33% as you said. If the property value is above 50 lakhs then1% will be applied as TDS to sellers. So they may increase the property cost.

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