Service tax on flat
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2015
Dear experts,
one of our customer has booked the flat under construction, the total flat worth is 70 lacs, at the time of booking agreement he has given RS. 10 advance and rs 60 lacs is remaining balance. plz tell me as i received rs 10 lacs as advacne. weather ST will be paid on only 10 lacs or on total 70 lacs, at this time,
thanx & regard
Sahil
one of our customer has booked the flat under construction, the total flat worth is 70 lacs, at the time of booking agreement he has given RS. 10 advance and rs 60 lacs is remaining balance. plz tell me as i received rs 10 lacs as advacne. weather ST will be paid on only 10 lacs or on total 70 lacs, at this time,
thanx & regard
Sahil
Jitendra Panwar, FCA
(Expert)
25 September 2015
You have to pay tax on Rs.10 lacs and not on whole amount.
Refer Rule 3 Point of Taxation Rukles 2011
Refer Rule 3 Point of Taxation Rukles 2011
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