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Aplicbility of s.tax on busines sale/purchase of vacant plot

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(Querist)
21 November 2013 If an assessee is doing the business of buying and selling vacant plots, will service tax provisions be applicable?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
21 November 2013 Buying and selling activity of vacant plot of land does not attract service tax.
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Ajay Mishra

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Ajay Mishra (Expert)
21 November 2013 I think it will be covered under Real Estate Agents.
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Sushant Mahajan

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Sushant Mahajan (Querist)
21 November 2013 Ajay Sir, the assessee buys plots in its own name and then sells it.....he is not acting as a mediator in the sale.
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Sushant Mahajan

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Sushant Mahajan (Querist)
21 November 2013 Thank You Paras Sir
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Ajay Mishra

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Ajay Mishra (Expert)
21 November 2013 If it is not his regular business, so he is not liable to pay service tax.
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Sushant Mahajan

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Sushant Mahajan (Querist)
21 November 2013 Ajay Sir, it is his regular business and he keeps plots as stock in trade in his books. The income is shown in the head Business
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Ajay Mishra

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Ajay Mishra (Expert)
21 November 2013 Doesn't matter, property is owned by his name. So not liable.
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