property tax

[Kiran Patil]

Need to confirm on service tax applicable for the below listed case.

Property is a ready possession premises, agreement executed in Sep 2011, OC received in Feb 2012, Payment through loan done on june 2012.

In such scenario wether service tax is applicable

Agm Value 5005000/- Kindly confirm what amount of Service Tax and VAT is applicable.

Aslo confirm wether there is any penalty on the same as the agreement is of sep 2011.

AI Summary

Clarification needed on service tax and VAT for a 2011 property transaction; penalties possible due to agreement date. A user inquired about the applicability of service tax and VAT on a property transaction involving a ready possession premises. The agreement was executed in September 2011, occupancy certificate received in February 2012, and payment completed via loan in June 2012. The user sought confirmation on the applicable service tax and VAT amounts for the agreement valued at 5,005,000, and if any penalties apply due to the agreement date. A respondent asked if the issue was clarified, indicating the need for further information.