Vat and service tax

Querist : Anonymous (Querist) 10 August 2011 This query is : Resolved
Dear Team,

I had booked my flat in Kamothe in March 2009. Stamp Duty and Registration charges are paid on 30 Sept 2009 ( Flat purchage agreement was executed on the same date ).

Now,building is ready and builder demanding Vat and Service Tax.

Please advise, whether vat and Servuce tax is applicable where the agreement was done on 30 Sept.2009 and possession is being handed over in Aug.2011.

Follow Query

Report Abuse

ajay sethi (Expert) 10 August 2011
all sale of under constrcution houses from 1st july 2010 would attract service tax .
since you have booked flat and entered inot agreement prior to july 2010 no service tax would be applicable .
i presume payments have been made by you before july 2010 .

Querist : Anonymous (Querist) 10 August 2011
Dear Sir,

I had paid 30% of toal ageement value to the builder before July 2010 and balance after July 2010 as per construction link schedule for payment.

Please advise.

ajay sethi (Expert) 10 August 2011
CBEC has, vide notification No 36/2010 ST dated June 28, 2010, exempted all advance payments received towards sale of under construction flat before July 1, 2010, from the levy of service tax.

Querist : Anonymous (Querist) 10 August 2011
Whether Value Added Tax (VAT) will applicable to me?

ajay sethi (Expert) 10 August 2011
yes. the amendment on Vat on flats under construction is effective from June 2006

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries