Service Tax on Real Estate Transaction

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Pranjal (Querist)
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14 March 2011 As per the latest amendment in service tax, now service tax is leviable on accrual basis istead of receipt basis. Now the question is that how the service tax be calculated in case of real estate companies, means at the time of giving possession to the customer or at the time of making aggreement.
Please explain.

CA Chandresh Agrawal

CA Chandresh Agrawal (Expert)
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15 March 2011 I think it will be at the time of giving possesion because while making agreement there is no serive but money received at the time of agreement is liable to service tax

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Pranjal

Pranjal (Querist)
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15 March 2011 Is it necessary to issue an invoice in this case? Plz explain sir.....

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