Service tax implication in a joint development agreement
This query is : Resolved
21 December 2015
Please explain to me the service tax implication in a joint development model. I am so confused as to how much percentage of gross amount the tax is charged to
CA R SEETHARAMAN
(Expert)
21 December 2015
If it is for construction of residential complex service tax payable on 25% value including land if carpet area is less than 2000 sq feet and sale value is less than 1 crore and on 30% value exceeding these limits.
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21 December 2015
Thats what I thought too but a developer was paying ST on 40% of gross and value and he says that a person from service tax dept had told him that 40% is the correct percentage and 30% applies on works contract and not JDA.
CA R SEETHARAMAN
(Expert)
21 December 2015
For works contract it is 40% and 30%/25% for JDA. He is nor right.
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