Notifiction no

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Yash Dave (Querist)
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23 February 2012 I WANT TO KNOW THE NOTIFCATION NO OF BULILDER & DEVELOPERS FOR CONSTRUTION OF RESIDENTAIL COMPLEX WHO ARE LIABLE FOR SERVICE TAX FROM 01 JULY 2010
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Y H DAVE

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 February 2012 In the Finance Act, 2010, an Explanation has been added w.e.f. 1-7-2010, to the definition of commercial or industrial construction and construction of residential complex, as follows -

Explanation.— For the purposes of this sub-clause, construction of a complex which is intended for sale, wholly or partly, by a builder or any person authorized by the builder before, during or after construction (except in cases for which no sum is received from or on behalf of the prospective buyer by the builder or a person authorized by the builder before the grant of completion certificate by the authority competent to issue such certificate under any law for the time being in force) shall be deemed to be service provided by the builder to the buyer.
This amendment has been made effective from 01-07-2010 by notification 24/2010 dated 22/06/2010.

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