Anantha Krishna Jois
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What is the rate of VAT and Service Tax on sale of flat in Karnataka
Q: What is the rate of VAT and Service Tax on sale of flat in Karnataka

Latest Answer: Yeah..earlier there was no VAT, only the service tax was to be payed for buying an apartment under construction. But after recent Supreme court ruling, there is possibility for them to demand VAT also. VAT is payable on value of goods at the time of incorporation of goods in the works and not the purchase value of goods by the builder/developer. Further, VAT is not payable on value towards immovable property, that is, land.

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