After the 5 per cent Value Added Tax (VAT) the state government is levying a 4.5 per cent service tax on all new flats. The whole logic is funny coz already VAT is being paid on the entire component that goes into constructing a building. The new taxes so that makes it Rs 4.5 lakh for a flat worth Rs 50 lakh, plus another 2-3 lakhs for registrations & brokerages.
Crazy Govt taxes on Housing
Crazy Govt taxes on Housing
Crazy Govt taxes on Housing
After the 5 per cent Value Added Tax (VAT) the state government is levying a 4.5 per cent service tax on all new flats. The whole logic is funny coz already VAT is being paid on the entire component that goes into constructing a building. The new taxes so that makes it Rs 4.5 lakh for a flat worth Rs 50 lakh, plus another 2-3 lakhs for registrations & brokerages.