Vijay (Developer) (24 Points)
05 February 2010Hi,
Can anyone tell me what is the correct service tax & vat for buying an apartment from a builder which is under construction in Hyderabad?
My builder is asking service tax - 4.1% of flat cost & VAT - 1% of flat cost.
He gave different figures in his mails like 3.4 & 4.1 and finally he is asking 4.1.
Is it not standard from govt? Please reply soon.
Thanks, VJ
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 07 February 2010
The ST on residential property as per me is no longer applicable as the same is a transfer of Immovable property + it is for the personal use fo the buyer. The dept circular 108 in my view clarifies the same but is not being accepted by the dept.
Refuse to pay the ST. VAt check the local rate for compistion.
ParuL
(STUDENT)
(46 Points)
Replied 07 February 2010
hey plz tell me the correct syllabus and what topics to cover service tax for pcc may 2010
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