Vat & service tax on flat buyers
This query is : Resolved
16 May 2012
Dear
I am planning to buy a flat in Belgaum, Karnataka. What is the VAt & ST payable by me on the Flat cost.
Regards,
Moosa Khan
I am planning to buy a flat in Belgaum, Karnataka. What is the VAt & ST payable by me on the Flat cost.
Regards,
Moosa Khan
MJ Krishnamurthy
(Expert)
21 May 2012
Mr Moosa,
If the flat is already built,then there will be no VAT but ST is chargeable.If you pay advance amount for the flat before it is completed you will have to pay either 4% on the total or 14% on the material cost,depending whether the dealer is under composition scheme or not.On the labour and expenses part 12.6% ST is payable.
MJK
If the flat is already built,then there will be no VAT but ST is chargeable.If you pay advance amount for the flat before it is completed you will have to pay either 4% on the total or 14% on the material cost,depending whether the dealer is under composition scheme or not.On the labour and expenses part 12.6% ST is payable.
MJK
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