Applicability and Calculation of ST and VAT on Purchase of a Villa

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....pplicability and Calculation of ST and VAT on Purchase of a Villa<br> Query (Issue) Started By: - SASI CHATLA Dated:- 3-1-2017 Last Reply Date:- 4-1-2017 Service Tax<br>Got 1 Reply<br>Service Tax<br>D....

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....ear Sir/ Madam, I have bought a Villa in the Year 2014 with a booking advance and later paid installments in Year 2015 and 2016 [ bank loan]. During possession, the builder has raised ST as 15% on 3....

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....0% of AOS VAT as 5% on 25% of AOS. Please let me know whether ST is applicable for Villa and if so should it be applied on AOS ? Should the land value be deducted from AOS and apply ST? Also, ST ....

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....if applied should be 14% for 2014 and 14.5 for 2015 and 15% for 2016 [since 1st June]. Please advise, how to pay or negotiate on this. Thanks in advance. Regards, Sasi Reply By KASTURI SETHI: The....

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.... Reply: Yes. ST is applicable on Villa. This is covered under Notification No.26/12-ST dated 20.6.12 as amended vide Notification No.8/16-ST dated 1.3.16 (Serial No.12 refers). 70 % abatement (earlie....

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....r 75%) is in lieu of value of land. So no deduction of value of land is permitted separately.<br> Discussion Forum - Knowledge Sharing ....