Hi,
1. What is the applicable Service tax (per union budget 2010-11) for buying an appartment (flats) ? There seems to be lot of discussion around this subject. So far no firm answer to this question.
2. Suppose, If the service taxes are applicable for a purchase of an appartment , then what percentage of tax is levied ? Is it 10% of the 33% of the total cost of the flat?
3. As per the recent budget, from which month this Service tax comes into effect ? Is it effective from the time of booking (i.e. the date when the agreement is executed between the buyer and the promoter) or is it effective from the date of sale deed execution ?
Please clarify.
Thanks
Shanmuga Padmanathan
