Service tax & vat

m tariq (Querist) 27 March 2012 This query is : Resolved
SIR,
I HAD BOOKED UNDER CONSTRUCTION FLAT IN KAMOTHE, NAVI MUMBAI. REGISTRATION HAS BEEN DONE ON 21/6/2010 COSTING 2250600/-RS. I HAVE PAID 266000/- RS. AT THE TIME OF REGISTRATION ,REMAINING AMOUNT OF 1984600/- WAS PAID IN STEPS TILL 11/2/2012
NOW FLAT IS READY FOR POSSESSION. BUILDER IS ASKING FOR 1%VAT(22506/-) & 2.58% SERVCE TAX ON AMOUNT PAID AFTER 1/7/2010(51203/-) PLEASE ADVICE ME. WHAT TO DO IN THIS SITUATION.
THANKING YOU IN ANTICIPATION

M TARIQ

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Raj Kumar Makkad (Expert) 27 March 2012
The demand of the builder is accurate. You can even obtain receipt against the deposit and may enquire its deposit from the IT department.

Kamal Prasoon Sinha (Expert) 30 March 2012
If the builder has got the building completion cerficate after 1st July 2010 , then VAT is payable.

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