Service tax on sale of flat
This query is : Resolved
Punit Agrawal
(Querist)
15 January 2014
If a building consists 20 Flats and 5 flats sold after obtaining completion certificate, then that 5 flat will be exempt from Service Tax or Not?
15 January 2014
Yes, flats sold after completion certificate do not require ST to be paid.
Thanks
Thanks
Punit Agrawal
(Querist)
15 January 2014
Which circular to be referred for this clarification.
AVTAR SINGH
(Expert)
15 January 2014
Sale of Immoveable property is not a service. Once the Flat gets ready for possession, it becomes immoveable property. But it must be remembered that no booking amount is recd. prior to completion.
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