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How much VAT and Service Tax comes for the under construction apartment
Q: I am planning to buy flat in Bangalore JP Nagar 7th phase, where total cost of the flat is 43,50000. The building is under construction and it is 70-80 % completed. I want to know what is the VAT and Service Tax is applicable for the same. Want to know VAT and ST will be calculated based on registration amount which may come around 35 lacks.

Latest Answer: Service Tax is Calculated 12.3% of the 40% Portion of the Total Cost ex: Basic Cost = 30,00,000/- and other Charges is Say = 5,00,000/- so now 40% of 35,00,000/- is 14,00,000/- know apply 12.3% Service Tax on this Amount and for Vat it is 5% on Total Value , i,e = 35,00,000/- . The Best way to Calculate Service Tax & Vat is 9.5% of Total Cost Rather Getting Confused Yourself.

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