18 January 2017
Please help me in clarifying on service tax calculation for construction of a house in my owned land.
I have a DTCP approved land on Chennai Suburb and i want to construct a house with built up area of 1482 sqft (GF+1 villa type for self occupation). When approached a builder, he calculated service tax as follows:
[Built up area+ Building plan approval+ EB charges+ Compund wall+ Extra filling work] *40%*15%
Is it true that service tax will be calculated @ 40%*15% from the components mentioned above. If not, how should the actual calculation should be.
CAclubindia
