21 December 2015
Please explain to me the service tax implication in a joint development model. I am so confused as to how much percentage of gross amount the tax is charged to
21 December 2015
If it is for construction of residential complex service tax payable on 25% value including land if carpet area is less than 2000 sq feet and sale value is less than 1 crore and on 30% value exceeding these limits.
21 December 2015
Thats what I thought too but a developer was paying ST on 40% of gross and value and he says that a person from service tax dept had told him that 40% is the correct percentage and 30% applies on works contract and not JDA.
CAclubindia
