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Is service tax applicable on buying a commercial property?- Property Hotline
Posted
November 24, 2016
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November 24, 2016
94
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1:56Now PlayingExpert: Ashish Sodhani, Tax Expert.
Question: I plan to buy a commercial property. Do I have to pay VAT and service tax? It is a joint venture property with the builder.
Answer: Service Tax is levied by the Central government on the construction services offered by the developers to buyers. At present, the service tax rate in India is 15%. Service tax applicable only on under-construction property purchased directly from developers. VAT is levied on the sale of goods. It is a state subject and its application differs from one state to the other.
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