Construction service
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2017
I am a individual and i am doing business of construction of residential flat. usually i take advance at the time of booking and then start construction for prospective customers. i have made turnover of approx 1 crore during this F.Y.
My question is whether Service tax applicable on my business/ turnover or not. If service tax applicable, please explain
My question is whether Service tax applicable on my business/ turnover or not. If service tax applicable, please explain
03 January 2017
Service tax applicable as your turnover exceeds 10 lacs. Service tax is payable 15% on 30% of turnover in case land cost is included in the sale value, if land value is not included service tax payable on 40% of turnover.
Collect the service tax from your customers and pay it to Govt. For the current year you have to pay service tax with interest due to delay in remittance.
Collect the service tax from your customers and pay it to Govt. For the current year you have to pay service tax with interest due to delay in remittance.
03 January 2017
but sir he construct residential flat . is there any exemption in negative list for residential flat.
03 January 2017
Exemption is for construction of single residential unit in one location. Service tax payable in case of construction of flats.
Message likes :
1 times
03 January 2017
THANK YOU SIR FOR YOUR VALUABLE FEEDBACK
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Traces submitting correction statement error
- Banking Related Issue
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- Reporting in TDS return
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- IT returns for fresh job holders
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
