Tax on house.

This query is : Resolved

Guest

Guest (Querist)

08 January 2014 Respected all, I want to clear one query related to my flat. we had booked flat under construction making down payment. now it is ready for possession. so we have paid remaining dues including stamp duty and registration. now Builder is demanding vat & service tax on agreement value. my question is, are we liable to pay vat & service tax both now? if yes then how it is calculated?

@VaibhavJ

@VaibhavJ (Expert)
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09 January 2014 Hi

If property is purchased before completion of construction then ST is applicable.

Pl refer: http://www.servicetax.gov.in/circular/st-circular12/st-circ-162-2012.htm

http://ravikarandeekarsblog.blogspot.in/2012/10/Maharashtra-Value-Added-Tax-VAT-On-Property-Bought-Between-2006-and-2010-6.html

Thanks