Residential complex

This query is : Resolved

kunal (Querist)
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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??

Viral Vora

Viral Vora (Expert)
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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.

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kunal

kunal (Querist)
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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??

kunal

kunal (Querist)
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06 December 2012 please reply?????

kunal

kunal (Querist)
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09 December 2012 please reply....

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