Construction contract
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2016
A company is having its own land on which construction work is in process. The building is having ground floor for commercial use and parking and rest floors are residential.Till now company has not taken any advance for said property.
Now a person intends to buy the entire property.
Whether it is possible to made two separate sale agreement one for sale of land and another is only for construction?
If yes what will be the rate of service tax and on which amount the same will be charged?
Thanks in advance.
Now a person intends to buy the entire property.
Whether it is possible to made two separate sale agreement one for sale of land and another is only for construction?
If yes what will be the rate of service tax and on which amount the same will be charged?
Thanks in advance.
19 March 2016
No service tax on land value and service tax would be applicable on 40%- as original works contract
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