Service tax on property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2012 1)'I had booked a flat in Mar'10 - cost is Rs 18.65 lacs+ 1.1 lacs stamp duty+ 1 lacs MSEB charges/society shares/other expenses total Rs 20.75 lacs.
2) i have done aggrement before 1st july 2010. whether i am liable to pay Service tax & Vat??
3) Before 1 st july 2010 i had paid Rs 2.25 lacs i am liable to pay service tax ??
4) After 1 st july 2010 to 31 march 12 i paid Rs 15.95 lacs am i liable to pay service tax & which rate basis??
5) still devloper is not raise a service tax bill or vat bill . if he is raised a bill on after 01.04.12 i am liable to pay a service tax on 12.36% on total flat value or amt paid basis to liable pay service tax??
6) devloper is not inform us to pay service tax ??

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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22 May 2012 Service tax till 31/03/2012 is paid @2.575 i.e 25% of 10.30% as and when advance money is received by the builder.

In your case the builder may ask you to pay service tax to him.

Even if the builder has raised invoice/bill after 01/04/2012 then also you are liable to service tax @2.575% only as it is charged when advance is received.

VAT @1% shall also be payable by you of toal amoount as per agreement.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2012

Agreement value 18.65
Other MSEB charges etc 1 lacs
Stamp duty /registration 1.1 Lacs

Totalbudget 20.75 lacs

Liability of S.Tax and VAT is to pay on the entire budget of 20.75 lacs or on the agreement value 18.65??

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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22 May 2012 only on Rs. 18.65 lakhs

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Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2012 Thank you very much Sir..