Service tax on sale of flats
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 October 2012
Dear experts one of my client is the builder promoting the flats, weather he has to collect the service tax or not? pl clarify if he has to collect then at what rate on which amount? because the transaction in sale of flat will involve sale of undivided share of land and construction agreement
pl clarify
pl clarify
26 October 2012
Hi
Flat is sold before obtaining completeion certificate Ser Tax is to be collected along with each payment received on pro rata basis.
Rate is 25% of Standard rate, ie. 25% of 12% + 3 % cess. Total = 3.09%
See link for details:
https://www.simpletaxindia.net/2012/07/service-tax-reduced-construction.html
Rgds//Vaibhav
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Flat is sold before obtaining completeion certificate Ser Tax is to be collected along with each payment received on pro rata basis.
Rate is 25% of Standard rate, ie. 25% of 12% + 3 % cess. Total = 3.09%
See link for details:
https://www.simpletaxindia.net/2012/07/service-tax-reduced-construction.html
Rgds//Vaibhav
Use thank button to convey your appreciation.
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