Dear All Experts,
Please suggest on Service Tax & VAT liability on under construction flat on group housing
At present, builder is charging VAT on below components
POWER BACKUP AMOUNT
CLUB MEMBERSHIP AMOUNT
CAR PARKING(OPEN) AMOUNT
EEC/FFC AMOUNT
EDC AMOUNT
LAND COST (%) AMOUNT
Service tax applicable on EDC amount or not
Thanks/Varun
Service tax on EDC: question whether development charges for an under construction flat attract service tax. Whether VAT and service tax apply to consideration components for an under construction flat, where the builder charges VAT on power backup, club membership, open car parking, EEC/FFC, EDC and a land cost percentage, and whether service tax is specifically applicable to the EDC amount. (AI Summary)