Construction of flats
This query is : Resolved
20 March 2016
if an assesse is engaged in the business of construction of flats what is the applicability of service tax and VAT .They collecting advance from customers
20 March 2016
This will be covered under works contract under which both service tax and VAT needs to be paid. Whenever advances are received ST has to be paid. It should be same under VAT also. I am unable to tell more on VAT since it is governed by the respective state. In Karnataka you need to pay VAT on advance received as well.
20 March 2016
what is the rate of service tax?
what is difference between works contract and construction service in the point of builder?
20 March 2016
it is in kerala
what is the rate of service of tax?
20 March 2016
An example for works contract is taking a contract for building just one wall. Construction service means you either own a piece of land and construct and sell or you enter into JD and then construct and sell. There are different methods of valuation and its quite complicated. It is advisable to take an opinion from a CA giving him all the facts.
20 March 2016
ST - 5.80% ( ST 5.60% + SBC 0.20%) up to 31-5-2016 and there after @ 6.00% ( ST 5.60% + SBC 0.20% + KKC 0.20%).
KVAT - 6% if having CST,otherwise 3% + tax u/s 6(2).
KVAT - 6% if having CST,otherwise 3% + tax u/s 6(2).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- Salary from Qatar in Dollars in India
- GST ISSUE OF INPUT AND OUTPUT GST
- Tax rate change regarding
- Change Of Karta In Case of Death
- TDS on purchase of under construction property from a reseller
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
