Real Estate India: Sales & Service Tax issues

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Question asked by Divya from Banglore:

Respected Mam,

My name is Divya k c, I'm basically from Kerala and I'm currently living in Bangalore. I am currently in need of a Legal consultation and support from a Real Estate expert lawyer in India who could help us with our current situation. Myself Divya k c, my Husband Sinoj Nair who too lives here in Bangalore have bought an Appartment in Bangalore, from the Multi Group Builders.

The size of the land is 1350 sqft approximately .After registering the appartment to our individual names in late 2007 ,we singed a construction agreement with the promoter to build and deliver the house to us. We have financed the appartment through housing loans.

The builder is now close to handing over the possession of the properties and there is one issue at this point.

1) There has been around 3-4 Lakhs that's been collected by the promoter for each of these properties towards Sales & Service Taxes. This community development at the current phase has 35 plus apartments in two or three separate blocks.

a) I had already paid most of the S&S taxes to them, As per my interpretation of the recent ruling from tax department in late 2007, the buyer is not liable for Sales & Service Taxes. When I asked them about this they said it does not apply to them and I'm still responsible for all the service taxes.So could you please help us in clarifying the follwing points.

1)Are we liable to pay serivce tax according to the latest rule.If yes how much percent?

I'm really puzzled and shocked at this situation and kindly request you take me as your client and help me out.

Please let me know how can I futher reach your office and engage your office in helping me with this issue.

Thanks in advance,

Kind Regards,
Divya

Vatsala Answers:

Hi Divya your question is similar to Rajesh Padmanabhan’s question. See my post “Sales and Service tax…Legal Help please!” on January 8th 2008. Good Luck!

For more information, kindly visit at Real Estate India or Online Real Estate Video.

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