Service tax on sale of immovable property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2016
If agreement to sale ( notarized not registered) of immovable property is done before completion certificate and registry is done after completion certificate, is there any liability towards service tax?
14 January 2016
If advance (even if token amount) is received before completion certificate, it would be liable to service tax under declared service entry "construction of complex, building, civil structure or part thereof". ST on 25% value (if carpet area less than 2000 sq feet or amount charged for unit is less than 1 cr.) . Otherwise on 30% value.
14 January 2016
@ashish
'or' is substituted with 'and' vide notification 9/2013 dated 8-5-2013.
'or' is substituted with 'and' vide notification 9/2013 dated 8-5-2013.
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