private construction company

This query is : Resolved

p.hepsiba (Querist)
Follow

26 February 2008 the company has constructed one building
consisting of 4 floors .total flats =6*4
comes to 24 flats.
first downpayment is RS.1,00,000.
within 30 days of allotment one has to pay 25%
2ND INSTALLMENT is 15% due on at the completion of basement roof
3rd INSTALLMENT is 10% due on at the completion of roof slab
4th INSTALLMENT is 20% due on completion of brick work
5th INSTALLMENT is 15% due on at the completion of plastering
is service tax leviable on the sale of 24 flats?
if yes what is the procedure?
6th INSTALLMENT is 10% due on at the completion of flooring

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

26 February 2008 As this clearly indicates construction contract, obviously Service tax will be applicable.

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
Follow

27 February 2008 SERVICE TAX WILL BE APPLICABLE TO CONSTRUCTION COMPANY

Ca. Alok Gupta

Ca. Alok Gupta (Expert)
Follow

28 February 2008 service tax is not levied on sale of flat. service tax leviable only if company has taken construction contract from others and company is not selling flat. in this case as per my opinion company is construct flat on owned land and after construction company is selling flat. in this company is not providing any service.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA. MOHIT SHARMA

balamurugan

madhu sudan

Deepak Nayak

Rubal Singhal

Subscribe Now

private construction company

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

Article Assistant

Manager- Finance and Compliance

GST CONSULTANT

Accountant