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Vat on Real Estate

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(Querist)
03 May 2011 I have Received advance amount against sale of flats. no invoice issued till date

1.is any Sale tax applicable on advance amount & total amount
2. any service tax applicable on real estate

Please tell me full concept
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Nayan Das

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Nayan Das (Expert)
04 May 2011 PLEASE CONFIRM FIRDT YOUR STATUS
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shweta bombe

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shweta bombe (Expert)
06 May 2011 1) 1% VAT IS CHARGED ON AGREEMENT VALUE AFTER 1.4.2010.
2) SERVICE TAX OF 2.575% IS CHAGRED ON AMOUNT RECEIVED AFTER 1.7.2010
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