Experrts,
Need help. I am buying a villa from a builder who is building 52 villas within a gated community. The builder is executing one sale agreement which two things - 1. Schedule B for the undivided share of land on which my villa will be built. Specified a value of 75L for that. 2. Schedule C - refers to a construction work for building the villa on Schedule B. The builder creates another agreement for construction of Schedule and specifies a value of 80L for construction service.
My question is how the Service tax should be calculated? on overall 155L or only on 80L. My builder has charged 12.36% on 30% of overall 155L. Please let me if that is correct.
