Sathya Nallusamy
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VAT and Service tax calculation for apartment in bangalore
Q: Hi, I have booked an apartment in Electronic city, Bangalore. The flat is under construction and will be available for possession during feb 2013. The builder has given us the cost break up which has Rs.2,62,000.00 as service tax and VAT on the property which cost Rs.32Lakhs (basic cost + car parking). Kindly clarify me, what is the calculation for service tax and vat? Also pls clarify me what is the need for two separate agreement, say sale agreement and construction agreement? Now my builder is telling me that he will be giving me only one agreement. Kindly advice me on this. your clarification will be much helpful for me. Kindly help me. Thanks Rona

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Hi Sathya, I have seen an article regarding this in Commonfloor.. Please click Service Tax On Purchase of Under Construction Property to read the article and let me know if this helps..
Thanks Manohar for pointing to the use full link. The article you have mentioned above states as per budget 2010-2011. Is the same service tax applicable for this year as well?
21st September 2012

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