10.3% Service Tax - DONT BUY UNDER CONSTRUCTION - Indian Real Estate Forum

pcpune · 04-05-10

The budget announced 10.3% service tax on the sale of UNDER CONSTRUCTION apartments. I believe they should really make it 50-100% like China, which has banned the sale of under construction apartments.

This is sure to have a negetive impact on Real Estate - specially under construction properties.

puser · 04-05-10

Quote:

Originally Posted by pcpune

The budget announced 10.3% service tax on the sale of UNDER CONSTRUCTION apartments. I believe they should really make it 50-100% like China, which has banned the sale of under construction apartments.

This is sure to have a negetive impact on Real Estate - specially under construction properties.

There goes up the rate again

amitmk1 · 04-05-10

Quote:

Originally Posted by pcpune

The budget announced 10.3% service tax on the sale of UNDER CONSTRUCTION apartments. I believe they should really make it 50-100% like China, which has banned the sale of under construction apartments.

This is sure to have a negetive impact on Real Estate - specially under construction properties.

Not possible. U r wrong. Period.

pcpune · 05-05-10

Good For U . GO Ahead and Buy . Face Consequences. PERIOD

amitmk1 · 05-05-10

Quote:

Originally Posted by pcpune

Good For U . GO Ahead and Buy . Face Consequences. PERIOD

Arre 10.3% is correct but it ain't on the total value. Guess on 25% or 33% of the value.

Is VAT also to be paid? How much is that? Crazy taxes man.. and our Govt says they don't have money.

realacres · 05-05-10

Quote:

Originally Posted by amitmk1

Arre 10.3% is correct but it ain't on the total value. Guess on 25% or 33% of the value.

It's on 25%. Hence, you pay about 2.575% as tax on sale value.

Quote:

Is VAT also to be paid? How much is that?

It is 1% on sale value.

Hence, you pay 2.575 + 1 = 3.575% as total tax on sale value.

And man, why will Govt have money? All is eaten up by babus & mantris

. So, in any case Govt doesn't have money, then why pay tax?

Don't pay tax honestly & don't make babus + mantris rich

.

smexcellence · 06-05-10

See what government we have.. taxing home buyers... and the IPL is not taxed...

realacres · 06-05-10

Quote:

Originally Posted by smexcellence

See what government we have.. taxing home buyers... and the IPL is not taxed...

There is Pawar involved in IPL. Why will he tax himself?

ani_meher · 06-05-10

Can someone pls tell me the necessity of creating this new thread when we already have one:

http://www.indianrealestateforum.com...ing-10211.html

I noticed we have 2-3 running threads on almost every useful topic. Request all such new thread makers to please check the existing thread and reply into that, so that the forum viewing remains tidy.

pcpune · 06-05-10

I definately agree, but I believe the moderator and thread owner would need to combine not only this thread but many threads on similar topic.

Moderator: Can you please help.

04-05-10	#1
pcpune Veteran Member Join Date: Nov 2009 Posts: 1,304 My Mood: Thanks: 0 Thanked 21 Times in 6 Posts	10.3% Service Tax - DONT BUY UNDER CONSTRUCTION The budget announced 10.3% service tax on the sale of UNDER CONSTRUCTION apartments. I believe they should really make it 50-100% like China, which has banned the sale of under construction apartments. This is sure to have a negetive impact on Real Estate - specially under construction properties.

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05-05-10	#4
pcpune Veteran Member Join Date: Nov 2009 Posts: 1,304 My Mood: Thanks: 0 Thanked 21 Times in 6 Posts	Good For U . GO Ahead and Buy . Face Consequences. PERIOD

06-05-10	#7
smexcellence New Member Join Date: Jul 2009 Posts: 12 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts	See what government we have.. taxing home buyers... and the IPL is not taxed...

06-05-10	#9
ani_meher Member Join Date: Jun 2009 Posts: 391 My Mood: Thanks: 8 Thanked 4 Times in 3 Posts	Can someone pls tell me the necessity of creating this new thread when we already have one: http://www.indianrealestateforum.com...ing-10211.html I noticed we have 2-3 running threads on almost every useful topic. Request all such new thread makers to please check the existing thread and reply into that, so that the forum viewing remains tidy.