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Dear Pothamsetty, thanks for this forum in advance. I have a question regarding service tax and VAT in Hyderabad , India. I bought an apartment in Hyderabad and builder is asking me for service tax and Vat. I did some research online and fouind some information but not sure the validity of the information. Should we even be paying service tax ? i found a circular released by commissionairate of service tax , New delhi in 2009 that all residential complexes ( even >12 units) are exempt from service tax....here is the link http://servicetaxdelhi.gov.in/readnews.asp?nid=155 Is it true that service tax is applicable on seme furnished apartment registration but not on furnished flats registration. R2I club forums , an online site , has some information on this http://www.r2iclubforums.com/forums/showthread.php/10374-Refund-on-Service-Tax-on-Apartment I am not sure weather to pay both service tax and VAT now , it costs me a lot to pay.. please advise.
Posted By : kumar
Sep 3, 2010 		 
I am salaried person with the net cash inflow of Rs. 53000 per month. My present monthly saving is around Rs.35000. I do not have any other liability and no additional cost of living at least for 5 years. I want to buy 1 BHK Flat between Andheri to Borivali. I do not have corpus fund to make the immediate payment for down payment normally range to 10-15% of cost of flat. I want to know if there is any builder who is offering handover of flat after 2 years (i.e I am looking for the flat with completion date around December 2011), till which i will make monthly payment of Rs. 35000. After that i will take the bank loan and repaid the full consideration. If above arrangement is possible, please give me the details. Also what should be the maximum cost of flat and eligible loan amount, i should opt considering my present income and saving.
Posted By : begnasi
Jun 8, 2010 		 
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