27 March 2012
If you are talking of construction in the state of maharashtra then;-
1. Vat shall be charged @1% of the agreement value of the property sold or stamp duty valuation Whichever is higher.
2. Service tax shall be payable under "construction of complex service" and ST shall be paid @10.30% on 33%/25% of the sale price of the property.This is he position tprior to amendment as per budget.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
28 March 2012
I am talking of construction in the state of Madhya Pradesh.