Residential complex
This query is : Resolved
06 December 2012
sir,
if assessee acquires 8 plots from same owner under different registry deed and he further constructed 3 floors on each plot..
is he liable to service tax??
if assessee acquires 8 plots from same owner under different registry deed and he further constructed 3 floors on each plot..
is he liable to service tax??
Viral Vora
(Expert)
06 December 2012
firstly it is to be seen that for what purpose the said 3 floors on each plot are constructed. If it is for own use then there is no point of service tax.
If the same is for sale to buyer then applicability of service tax would not arise in case entire consideration is received after completion certificate issued by competent authority.
If assessee receives booking advance and then constructs the floors same would be taxable as & when payment is received.
It does not make any difference if assessee acquires 8 plots from same owner or different owner under one sale deed or different sale deeds.
If the same is for sale to buyer then applicability of service tax would not arise in case entire consideration is received after completion certificate issued by competent authority.
If assessee receives booking advance and then constructs the floors same would be taxable as & when payment is received.
It does not make any difference if assessee acquires 8 plots from same owner or different owner under one sale deed or different sale deeds.
Message likes :
1 times
06 December 2012
yes sir these flats are for the purpose of further sale and assessee receives advance payment but sir i'm little confused in the definition of residential complex...
are these 24 floors or flats covered under residential complex definition??
are these 24 floors or flats covered under residential complex definition??
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