Service tax on flats

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Rakesh Bhalotia (Querist)
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21 September 2013 I have constructed around 50 flats in my locality. After completion of the said project i have sold the flats to buyer. So please advice me there is any kind of VAT or Service Tax applicability?

CA Suresh Jain

CA Suresh Jain (Expert)
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22 September 2013 If full amount of consideration for the sale of flat is received after the completion of the flat (as provided in the rules) the service tax is not payable.

regarding VAT provision of relevant state needs to be seen.

disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case

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