My builder demolished an Individual house, owned by him, to construct an apartment. I own a 1090 sq ft apartment (UDS 523 Sq Ft) of the total 4, 000 Sq ft built up portion
We entered separate Sale and Construction agreement. Builder is calculating Service Tax on Total Value of the Property instead on. Is it correct?
I was under the assumption that by entering separate agreement, value of Service and Cost of Land is bifurcated, so ST should be only Construction Agreement Value. Please Clarify
Thanks
Govind
Service tax rate if separate sale and construction agreement
Govindarajan (CMA) (24 Points)
15 June 2015