Service Tax on Construction Company
This query is : Resolved
Mohd Sarfaraz Latibani
(Querist)
20 April 2011
I want to know the rate of Servive Tax on Construction Comapny building residential flats and how is taxable value calculated?
Thanks
Thanks
rajula gurva reddy
(Expert)
21 April 2011
Rate of Service Tax on Residential Construction is 10.3% as on date. But,if you are constructing your own building for subsequent sale, no Service TAx is payable. Service TAx is payable only when you take up the construction on contract basis or on development basis. In case of development of the site, Service Tax is payable on the sale value of the the share of the contractor/service provider.
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