I am working as an Accountant for Builders & Developers Group, i.e. with M/S V.M. Associates, Mumbai
Regarding Service tax levied on builders & Developers i have some querries which is as follows:
1. We have started our project in December 2009. We have started collecting advance towards booking of flat from Flat parties w.e.f. from 1st January 2010 onwards.We have also started registration of flat w.e.f. from June'2011.
Now please inform us the exact implication from which date we are liable to pay the service Tax?
As per information given to us , from our Chartered Accountant, we have been informed
that we are laible to pay the service Tax w.e.f. from 01.07.2010. We have got different
openion from 2-3 C.A's. Sir please confirm that whether the amount collected prior to the
said period is exempted from Service Tax?
You are kindly requested to give us the exact liability to pay Service Tax in this case.
For V M Associates
Our Office Contact: 28079330
Our office Email ID s_avirahi @ yahoo.co.in