03 December 2013
If flat is sold/booked after completion certificate, then no Service tax is applicable. Otherwise, Service tax is applicable & following rate is charged(inclusive of Cess): 1) Residential property(carpet are less than 2000 sq ft as well as amount charged is less than Rs. 1 cr.)--- 3.09% 2)Other cases----3.708%
In the aforesaid rates, CENVAT of input(e.g. steel,iron, etc.) is not available.
CAclubindia
