Can service be inclusive in real estate
This query is : Resolved
03 March 2015
Hi there,
I have received 1,00,000 for a sales of flat of Rs 15,00,000/- can i calculate Service Tax and VAT inclusive in Rs. 15,00,000/- ( I have mentioned in Sale Deed that 15,00,000/- inclusive of all govt. dues but stamp duty is paid on entire 15,00,000)
I have received 1,00,000 for a sales of flat of Rs 15,00,000/- can i calculate Service Tax and VAT inclusive in Rs. 15,00,000/- ( I have mentioned in Sale Deed that 15,00,000/- inclusive of all govt. dues but stamp duty is paid on entire 15,00,000)
Rajesh Sharma
(Expert)
04 March 2015
Hi
Please clarify whether it is First sale or second sale of flat?
Please clarify whether it is First sale or second sale of flat?
Tapas Ruparelia
(Expert)
24 April 2015
Yes. Service tax can be calculated as inclusive in such case. Are you paying VAT under composition scheme?
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