Service tax & vat on under construction property
JAYANT
(Querist) 30 March 2012
This query is : Resolved
I booked a flat in a multi-storage apartment at Wakad-Pune last Oct 2011. The property is under construction and expected to have possession by December 2013. I have made payment towards more than 50% of work completion except Service Tax and VAT. Please advise when Service Tax and VAT need to be payable and rate of it.
Jai Karan Nagwan
(Expert) 30 March 2012
You shall be given flat as per the agreed term. VAT/Excise would be paid by the builder not by you
Sankaranarayanan
(Expert) 30 March 2012
You need to pay the Vat and service tax amount along with amount of premises of flat rate. So the builders out look is whether going to pay now or later. Normal coise of work when the final amount paid that time only the invoice is to raised so according the vale of invoice amount the rebuider will pay it to govt account
JAYANT
(Querist) 01 April 2012
May I request you to provide notification published in this respect by Government for payment of service tax and VAT to Builder for the property under construction?
Pl clarify role and responsibility of builder and buyers in this instance.
