Dear All,
Need a clarification on service tax , VAT and Cess with respect to the flats under construction in Kerala. I have booked a flat in Kerala in Jan 2010. Its still under constuction - in the final stages of hand over.
I started paying the amounts towards the flat from Jan 2010 onwards and still 2% of total value to be paid now.
Total flat cost comes to 3248189. In this Land value is 795000,Construction Amount - 1987500, Car parking 175000, VAT (3.03) = 69599 and Cess (C.W.W.F) 1% = 30920
Now builder has come up with additional service tax to be paid @ 3.399 from Jan 2010 till March 2011 and @ 4.08 for balance reciveable after march 2012
I need to know whether I have to pay VAT , CESS and service tax ?
If so what is the service tax percentage from Jan 2010 onwards till Now. I heard that service tax got introduced from 2010 budget. SO do I have to pay service tax for amounts which I have paid before April 2010?
please clarify
rgds
Lathish
latheeshvl @ gmail.com
CAclubindia
