14 June 2013
Builder is constructing a housing project consisting 7 buildings. He applied for part complition I.e. full complition of 2 buildings out of 7. Now he is selling flats out of 2 complied buildings. Entire consideration is received after part complition. Whethr service tax is leviable on that sale?
14 June 2013
For those two buildings(for which CC has been given by the Authority), no Service tax shall be levied, since you have mentioned that entire consideration has been received after completion. But one things should be kept in mind, date of application for completion is not relevant. But what matters is when the CC has been actually given by the Audhority(usually local bodies).
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