Can a builder charge 15% tax on under-construction flat?- Property Hotline
August 25, 2016
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1:46Now PlayingCan a builder charge 15% tax on under-construction flat?- Property Hotline
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as posted by the channelExpert: Suresh Surana, Founder of RSM Astute Consulting.
Question: I bought an under-construction flat. The builder has been charging 15% on 30% of the demand raised as service tax. Is this correct?
Answer: Service tax increased from 14.5% to 15% with effect from 1st June 2016. For apartments of more than 2,000 sq. ft. or valued Rs1 crore or above, service tax is levied on 30% of the property.
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