Confusion over VAT & ST with everybodyin B'lore
Posted: December 7th, 2012, 8:49 am
Hi Friends,
I think there is confusion over VAT & ST calculation with everybody here in B'lore. Every builder is charging them differently. Anybody know what is the government norm, My builder s asking me the below, is it right? Please advice.
Construction value - 2714098
67% of Construction Value => 1818445 * 14.5% => VAT - 263674.655
33% of Construction Value => 895652 * 12.36% => ST - 110702.643
I think there is confusion over VAT & ST calculation with everybody here in B'lore. Every builder is charging them differently. Anybody know what is the government norm, My builder s asking me the below, is it right? Please advice.
Construction value - 2714098
67% of Construction Value => 1818445 * 14.5% => VAT - 263674.655
33% of Construction Value => 895652 * 12.36% => ST - 110702.643