142,180+ Members
   Get Started   Latest Posts Search Today's Posts Mark Forums Read
IREF® Real Estate in India - Property Discussion
IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Noida > Service Tax
Like Tree2Likes

Reply
 
LinkBack Thread Tools Search this Thread
Old January 24 2012, 01:07 PM   #51
New Member
 
Join Date: Aug 2011
Posts: 45
Likes Received: 4
Likes Given: 48
My Mood: Cheerful
Default Reference to source document

Hi MANOJa

Very useful Information. Could you point me to the original source of this information? I know of cases where the builder is charging 10.3% on EDC/IDC and it will be worth taking it up with them.

Regards


Quote:
Originally Posted by MANOJa View Post
g-h-a-rondabhai, i hope this helps -


The Central Government, vide its Notification No.1/2006-ST dated 1.3.2006,
as amended by Notification No.29/2010-ST dated 22.6.2010, w.e.f. 1.7.2010
and Notification No.36/2010 dated 28th June, 2010, has brought the
“Construction of complexes” under the taxable service net under the
aforesaid Service Tax Act. Accordingly all Residential or Commercial units
constructed and allotted/sold are now subject to Service Tax at appropriate
rate. The rate of Service Tax applicable on various Sub-heads under which
payments are to be made for the Residential/Commercial/Retail Units are
given below :

Description | Applicable Service Tax
------------------------------------------+------------------------------------------
Basic Sale Price (BSP) | 2.575 %
------------------------------------------+------------------------------------------
Preferential Location Charge (PLC); | 10.3%
club membership; maintenance charge; |
other charges |
------------------------------------------+------------------------------------------
EDC/IDC; IFMS; IBMS; Car Park | Nil


The aforesaid Service Tax is applicable on all payments made by you on or
after 1st July 2010. The payments received upto 30th June, 2010 are exempt
from the aforesaid Service Tax. It may please be noted that the Service Tax
is linked to the actual date of payment and not linked with the date of
Payment Request.

 
Old June 2 2012, 11:24 AM   #52
New Member
 
Join Date: Jun 2012
Posts: 8
Likes Received: 0
Likes Given: 0
Default

I have bought a flat last month. The cost of the flat ios 30 Lacs.
I am yet to pay service tax of 3.09%.

Need advice. Is there any exemption limit on service tax.
I had heard that if the cost of house is 30 Lacs then service tax of 3.09% would be levied on only 25 Lacs.

Pl help me in this.
 
Old June 2 2012, 11:34 AM   #53
Veteran Member
 
gharondabhai's Avatar
 
Join Date: Nov 2010
Posts: 2,854
Likes Received: 660
Likes Given: 262
My Mood: Amazed
Default

Quote:
Originally Posted by Harpreetrup View Post
I have bought a flat last month. The cost of the flat ios 30 Lacs.
I am yet to pay service tax of 3.09%.

Need advice. Is there any exemption limit on service tax.
I had heard that if the cost of house is 30 Lacs then service tax of 3.09% would be levied on only 25 Lacs.

Pl help me in this.
Sorry bhai, I have no idea on this. May be you can start a new thread with a proper heading so that you can get help from other people.

"Is there any discount / expemption on Service Tax for property costing less than 25L?"
 
Old June 2 2012, 11:42 AM   #54
New Member
 
Join Date: Jun 2012
Posts: 8
Likes Received: 0
Likes Given: 0
Default

I have bought a flat last month. The cost of the flat ios 30 Lacs.
I am yet to pay service tax of 3.09%.

Need advice. Is there any exemption limit on service tax.
I had heard that if the cost of house is 30 Lacs then service tax of 3.09% would be levied on only 25 Lacs.

Pl help me in this.
 
Old June 2 2012, 04:54 PM   #55
Veteran Member
 
StudRawk's Avatar
 
Join Date: May 2011
Location: Death Valley
Posts: 1,031
Likes Received: 8
Likes Given: 0
My Mood: Devilish
Default

Quote:
Originally Posted by Harpreetrup View Post
I have bought a flat last month. The cost of the flat ios 30 Lacs.
I am yet to pay service tax of 3.09%.

Need advice. Is there any exemption limit on service tax.
I had heard that if the cost of house is 30 Lacs then service tax of 3.09% would be levied on only 25 Lacs.

Pl help me in this.
Dear Harpreet,

First i would like to tell you, there is no rebate or exemption or bench mark on service tax but certainly there are some extra charges where Service tax levied as per percentage and fluctuate as here by below

BSP: 3.09 %

Car Parking/IFMS/Contingency charges/EDC/IDC/Lease Rent: No Service Tax

ECC/Club House/PLCs/STP/WTP: 12.30 %

Where as Builders can not charge any service tax if Occupational certificate is already obtained, only registration would be extra charges.

In your case, You should ask the break up of calculation of total flat because 3.09% will be applicable on your BSP, it does not matter if it comes 25 L or 30 L.

If your BSP value is 25 L exclude rest all other extra charges then be ready to face 12.30% more as per above extra charges.

Many times Builders say bsp is including of Car parks/ Club House / Elecrical Meter Charges etc, so in such condition they shall only ask 3.09% whatever the BSP comes inc all.
__________________
If You Guys Are Going To Be Throwing Beer Bottles At Us At Least Make Sure They Are Full
 
Old June 5 2012, 10:58 AM   #56
New Member
 
Join Date: May 2012
Posts: 30
Likes Received: 6
Likes Given: 2
Default Service Tax on BSP - 12.36%?

The 3C Lotus Panache charges 12.36% Service tax on BSP. So if the basic price is Rs 326,016 then the service tax would be approx Rs10,074??
Is this how the Service tax should be charged ?
 
Old July 26 2012, 11:07 AM   #57
Member
 
Join Date: Dec 2010
Posts: 175
Likes Received: 24
Likes Given: 129
My Mood: Fine
Default

yesterday I received payment notice from bestech, where in they are charging 4.944% on car parking. their earlier demand raised 2 months back was also having having car parking charges but no service tax was applied. Please confimr if there has been any change in ervice tax laws and car parking is covered under it.
 
Old July 26 2012, 02:55 PM   #58
Member
 
Join Date: Dec 2010
Location: Chandigarh
Posts: 107
Likes Received: 14
Likes Given: 3
My Mood: Cheerful
Default

Quote:
Originally Posted by Rajinder View Post
yesterday I received payment notice from bestech, where in they are charging 4.944% on car parking. their earlier demand raised 2 months back was also having having car parking charges but no service tax was applied. Please confimr if there has been any change in ervice tax laws and car parking is covered under it.
There have been increase in service tax from 1st Apr 2012 onwards. The old and new rates for various price elements are:

Particular.........................Old Rate in %........................New Rate in %
.............................(01.07.2010 to 31.03.2012)......(01-April-2012 onwards)
------------ ------------------------ -------------------------
Basic Sale price::::::::::: 2.575 :::::::::::::::::::::::::::::: 3.09
PLC ::::::::::::::::::::::: 10.3 :::::::::::::::::::::::::::::::: 12.36
EDC/IDC :::::::::::::::::: NIL ::::::::::::::::::::::::::::::::: NIL
Covered Car Park :::::::: 2.575 ::::::::::::::::::::::::::::::: 3.09
Club Membership :::::::: 10.3 ::::::::::::::::::::::::::::::::: 12.36
IBMS/IFMS ::::::::::::::: NIL :::::::::::::::::::::::::::::::::: NIL
Transfer charges :::::::: 10.3 ::::::::::::::::::::::::::::::::: 12.36
Maintenance Charges ::: 10.3 ::::::::::::::::::::::::::::::::: 12.36
 
Old July 26 2012, 07:46 PM   #59
 
vlord0007's Avatar
 
Join Date: May 2012
Location: Is Sansaar me
Posts: 1,351
Likes Received: 257
Likes Given: 940
My Mood: Relaxed
Default

Quote:
Originally Posted by ramans View Post
There have been increase in service tax from 1st Apr 2012 onwards. The old and new rates for various price elements are:

Particular.........................Old Rate in %........................New Rate in %
.............................(01.07.2010 to 31.03.2012)......(01-April-2012 onwards)
------------ ------------------------ -------------------------
Basic Sale price::::::::::: 2.575 :::::::::::::::::::::::::::::: 3.09
PLC ::::::::::::::::::::::: 10.3 :::::::::::::::::::::::::::::::: 12.36
EDC/IDC :::::::::::::::::: NIL ::::::::::::::::::::::::::::::::: NIL
Covered Car Park :::::::: 2.575 ::::::::::::::::::::::::::::::: 3.09
Club Membership :::::::: 10.3 ::::::::::::::::::::::::::::::::: 12.36
IBMS/IFMS ::::::::::::::: NIL :::::::::::::::::::::::::::::::::: NIL
Transfer charges :::::::: 10.3 ::::::::::::::::::::::::::::::::: 12.36
Maintenance Charges ::: 10.3 ::::::::::::::::::::::::::::::::: 12.36
Gulshan Ikebana is charging service tax on Lease Rent. IS This Legal ? Gulshan marketing guys are saying, there are changes in the rules.
 
Old July 27 2012, 01:15 PM   #60
Member
 
Join Date: Dec 2010
Location: Chandigarh
Posts: 107
Likes Received: 14
Likes Given: 3
My Mood: Cheerful
Default

Quote:
Originally Posted by vlord0007 View Post
Gulshan Ikebana is charging service tax on Lease Rent. IS This Legal ? Gulshan marketing guys are saying, there are changes in the rules.
I don't invest in Noida, so don't have idea about the Service tax on lease rent. May be other members can share their views on this.
 
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Join IREF Now!    
Related Threads
VAT, Service tax
VAT and Service Tax
Service Tax and Vat on Flats in MumbaiAccording to latest order by the Hc, service tax has been levi
Service tax???
Service Tax


Tags
service, tax
".Noida.", ".Uttar Pradesh."India