Flat buyers spared service tax on maintenance fee

Home buyers have something to look forward to in an otherwise dull property market. The customs, excise and service tax appellate tribunal recently held that they will no longer have to pay service tax on the one-time maintenance charge (deposit) paid to builders at the time of booking a flat.
 “The impact of indirect taxes on home buyers is very high. So, this order will, to an extent, help buyers save 12.36% (service tax) on the amount of the deposit paid,” said Sagar Shah, head (indirect taxes), BDO India.
 The one-time maintenance charge includes a flat owner’s share in the common electricity bill, lobby and water charges in a housing complex . The charge varies according to the project, amenities, use of property (whether for commercial or residential purpose), the city as well as the location and other such factors.
 Realty check
 Buyers won’t have to pay 12.36% service tax on one-time maintenance fee paid to builders. Developers have to keep records and refund the balance once housing society is formed.
For more Information:-  Sanjay rastaugiSanjay Rastogi Builder,Real Estate IndiaReal Estate Company in India,  Affordable Houses in Noida  Email Us Or SMS :SAVIOUR at 53030
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About Saviour Builders

Saviour Builders Pvt. Ltd. is one of the leading real estate developers in Delhi NCR. The Saviour Group is the tantamount to deliver contemporary quality amid excellence and diverse innovation. It has emerged as one of the prominent entities in the real estate sector of India and is into residential, commercial and township projects in and around Delhi NCR. The Group devotes its complete dedication to reach higher and build better. With its immense hard work and loyalty, Saviour has accomplished the dream of delivering various tremendous infrastructures round the city. We intend to provide you with affordable houses in the Delhi NCR region. Some of its significant projects like Saviour Greenisle, Saviour Park, Saviour Street, Gaur City -1, Gaur City -2 and many more have created a new benchmark within the trade. Today, we have our presence at Noida, Noida Extension, Greater Noida (West) and Ghaziabad. We, at Saviour, are building homes based on trust and you are invited to build your future with us. We help you live your dream of living in style.

Posted on December 20, 2013, in Real Estate and tagged , , , , . Bookmark the permalink. Leave a comment.

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