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Service Tax on ready Possession Flat

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Service Tax on ready Possession Flat

Last updated: December 27 2012
16 | Posts
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  • #11

    #11

    Re : Service Tax on ready Possession Flat

    And here is how Navi Mumbai Municipal Corporation describes a completion certificate/Occupancy certificate

    Town Planning - NMMC
    http://www.nmmconline.com/documents/...29/townpl3.pdf

    Can someone please clarify..

    thanks..

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    • #12

      #12

      Re : Service Tax on ready Possession Flat

      Originally posted by junaid123 View Post
      After the tax issues created by Govt. that clause is now part of all Flat agreements and its there is mine agreement too.

      Are you sure the Completion certificate is issued after the OC ?? is is not logical to issue the Occupancy certificate after the work has completed ??

      Junaid, I too purchased a flat earlier this year where the OC was recieved and I did not pay the ST (neither did the builder ask for it).

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      • #13

        #13

        Re : Service Tax on ready Possession Flat

        Originally posted by rembrants View Post
        Junaid, I too purchased a flat earlier this year where the OC was recieved and I did not pay the ST (neither did the builder ask for it).
        thanks for the info..so you only had to pay VAT of 1% ?

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        • #14

          #14

          Re : Service Tax on ready Possession Flat

          Originally posted by junaid123 View Post
          thanks for the info..so you only had to pay VAT of 1% ?

          no Vat, no ST on the flat purchase value.

          we dd pay ST on the initial lumpsum maintenance charged

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          • #15

            #15

            Re : Service Tax on ready Possession Flat

            Service tax is applicable only when the property is under-construction and not applicable AFTER it is ready while VAT is applicable at time of registration of agreement / sale-deed.

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            • #16

              #16

              Re : Service Tax on ready Possession Flat

              I m sure that cc is after Oc. I work for a builder .. N we collect service tax even after Oc ... Service tax defines a building under construction till a cc is obtained.

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              • #17

                #17

                Re : Service Tax on ready Possession Flat

                Yes and after OC there is no VAT

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