Residential apartments
This query is : Resolved
SSharad S Mahiswari
(Querist)
28 November 2012
We are constructing residential apartments on our land and want to sell to individual owners.
Is service tax applicable to the buyers to be paid to us for submitting in the government?
If yes at what rate it is to be collected?
Also, when is this service tax payable - at time of registration or as we receive the instalments.
Is service tax applicable to the buyers to be paid to us for submitting in the government?
If yes at what rate it is to be collected?
Also, when is this service tax payable - at time of registration or as we receive the instalments.
Viral Vora
(Expert)
28 November 2012
You have to collect service tax @ 12.36% from the buyer. However abatement to the tune of 75% is available as per notification no. 26/2012, item no. 12 if conditions laid down are satisfied.
Hence effective rate is 3.09%.
Service tax is payable as and when instalments are received from buyers. Not at the time of regisrtation.
Hence effective rate is 3.09%.
Service tax is payable as and when instalments are received from buyers. Not at the time of regisrtation.
SSharad S Mahiswari
(Querist)
28 November 2012
Thanks a lot sir,
If it is handy pls forward the notification no 26/2012 item no 12 for reference
If it is handy pls forward the notification no 26/2012 item no 12 for reference
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
