Should I book flat without having details about VAT & ST details

Hi – I am not very experienced in real estates. I am planning to book a flat in Pashmina Waterfront however in delimma as Pashmina has not given me any details about taxes & registration cost. This is making me bit skeptical as I have asked them atleast 3 times (in face to face mtng) to give me tax break up details. Everytime Pashmina says that accounts department is working on that.

Should I go ahead & book flat trusting that when agreement will be signed, they will have to give all tax details or is something messy going on ?

asked December 4, 2011

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knavjot

4 Answers

Should not be an issue. But you should ask for them to provide the breakup between Land Cost and Construction Cost as VAT and ST are calculated based on these. Assuming you have

1. Basic Cost of Flat

2. Construction Cost to Land Cost Ratio then you can calculate VAT, ST and Registration Charges as discussed in

http://harshasagar.com/questions/info-on-vat-servicetax-registration-charges/

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harshasagar_2

Thanks a lot. One more question.

Will all these taxes be listed at the time of agreement in agreement paper or is it that builder has option to change it later ?

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knavjot

Normally in the Agreement for Sale builder will not include VAT, ST or Registration Charges except mentioning that the charges will be collected as per prevailing rates, so make sure you get the price breakup between construction and land cost.

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harshasagar_2

Hi,

You can go ahead.They cannot cheat you on this .They have to declare it to the govt.

I am also planning to book one.share your view if any

Cheers.

Ajay

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ajayagarwal