https://www.taxtmi.com/forum/issue?id=111313 Applicability of Service Tax to villa purchase is affirmed; a 70% abatement under the cited notification governs computation of taxable value and operates in lieu of any separate deduction for land value, so buyers should not separately deduct land from the assessable value where the abatement is applied by the builder. The reply does not address VAT calculation or retrospective rate mechanics. en-us Tue, 03 Jan 2017 17:22:55 +0530 Thu, 23 Jan 2025 15:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111313 Applicability of Service Tax to villa purchase is affirmed; a 70% abatement under the cited notification governs computation of taxable value and operates in lieu of any separate deduction for land value, so buyers should not separately deduct land from the assessable value where the abatement is applied by the builder. The reply does not address VAT calculation or retrospective rate mechanics. Discussion-Forum Service Tax Tue, 03 Jan 2017 17:22:55 +0530 https://www.taxtmi.com/forum/issue?id=111313