Service tax on flate purchase
This query is : Resolved
Sumit Grover
(Expert)
03 December 2013
If flat is sold/booked after completion certificate, then no Service tax is applicable.
Otherwise, Service tax is applicable & following rate is charged(inclusive of Cess):
1) Residential property(carpet are less than 2000 sq ft as well as amount charged is less than Rs. 1 cr.)--- 3.09%
2)Other cases----3.708%
In the aforesaid rates, CENVAT of input(e.g. steel,iron, etc.) is not available.
Otherwise, Service tax is applicable & following rate is charged(inclusive of Cess):
1) Residential property(carpet are less than 2000 sq ft as well as amount charged is less than Rs. 1 cr.)--- 3.09%
2)Other cases----3.708%
In the aforesaid rates, CENVAT of input(e.g. steel,iron, etc.) is not available.
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