Jitendra Patil
Posted Discussions
Posted Replies

Service tax receipt from builder
Q: i' ve purchase new house in Vadodara , builder collect service tax from me but when i asked for receipt he said individual receipt will not be available Please sugfest on this

Latest Answer: So you mean that from now the effective rate on the entire value of a property costing below Rs.1 crore is 3.75% (i.e., 15% * 25% of the property value), and for a property above Rs.1 crore, the effective rate is 4.5% (15% * 30% of the property value). Accordingly, if you are buying a property costing Rs.75 lakh, you will have to pay Rs.2.81 lakh (3.75% of Rs.75 lakh) as service tax. Similarly, if the value of the property is Rs.1.5 crore, service tax would be Rs. 6.75 lakh (4.5% of Rs.1.5 crore). Am i right friend?

Ask a Question
120 Characters Left





    Trending Categories

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