Service tax on purchase of immovable property
This query is : Resolved
09 July 2016
Dear All,
I want to know if an NRI is required to pay service tax on purchase of Immovable Property in India.
The property is under construction.
If anyone is aware about any provision in this respect on Finance Act or Service Tax Rules, then please share.
Its Urgent.
I want to know if an NRI is required to pay service tax on purchase of Immovable Property in India.
The property is under construction.
If anyone is aware about any provision in this respect on Finance Act or Service Tax Rules, then please share.
Its Urgent.
09 July 2016
Service tax is payable at 15% on 30% value of the property under construction. As per POP Rule 5 service tax payable based on the location of the property. Hence NRI has to pay service tax.
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