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VAT & Service Tax Liability on Under Construction Properties

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VAT & Service Tax Liability on Under Construction Properties

Last updated: December 1 2015
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  • VAT & Service Tax Liability on Under Construction Properties

    I read that we are liable to pay these only when we buy under construction projects.
    Let's say, I'm buying a flat which is ready to move in but maybe little generic work is pending overall ex. Elevator Installation. Would we be liable to pay the tax if so?

    Also, I read that
    Service Tax - 3.5% on total cost / 14% on 25% of total cost
    VAT - 5% of material cost. How could we know what the material cost was? Could this be paid based on some estimation?

    Also, would the amounts we paid as tax specified anywhere in any of the document?
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