I had bought a flat in Mumbai for which the builder is asking for service tax on the cost of construction. I wanted to know if this service tax is applicable on us and if yes, what is the % of amount that we will have to pay?
Answered on November 08, 2017
Yes, Service Tax is applicable on the service portion in the execution of works contract. Currently, the abated rate of service tax on contract value is 4.5%
