is service tax applicable on purchase of new flat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2010
sir,
we have booked a flat in nagpur, maharastra in september 2009,and expected possession in end of this month i.e april 2010.
but now builder is demanding 4% extra on the name of service tax but when i search on internet i come to know that service tax is applicable or will come in effect from 1 july 2010
so sir please suggest me that we have to pay service tax or not
thank you
we have booked a flat in nagpur, maharastra in september 2009,and expected possession in end of this month i.e april 2010.
but now builder is demanding 4% extra on the name of service tax but when i search on internet i come to know that service tax is applicable or will come in effect from 1 july 2010
so sir please suggest me that we have to pay service tax or not
thank you
05 April 2010
What you say is correct. Service tax on purchase and sale of flats(residential building), if any sum is paid prior to issue of completion certificate, is proposed to be made taxable in the Finance Bill, 2010. This provision shall be effective from a date to be notified after the Bill receives the assent of the President.
Probably, the builder is charging 4% extra, treating the service under the category of "Works Contract".
Probably, the builder is charging 4% extra, treating the service under the category of "Works Contract".
05 April 2010
AGREE WITH MR. NAIK
05 April 2010
agree with expert
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
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Correction in TDS return New Traces Portal
- ITC BENEFIT ON BROKRAGE PAID
- F&O reporting in ITR
- DUE DATE FOR ITR FILING
- Gst reverse charge mechanism to be claimed in the month of payment
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
