VAT calculation when buying an Apartment

prajith s menon (QAM) (24 Points)

29 September 2009  

Dear All,

Can you please advise how is vat calulated for apartments in Karnataka.

Is it  12.5% on 70% of the  construction cost or at 4.22 % of the total cost i.e Total flat and carparking cost.

I need your advise on which is the correct way to calculate VAT.

Regards,

Prajith