service Tax on under construction flat
This query is : Open
sudhakar kumar
(Querist)
11 July 2010
Sir Builder demanding flat 2.5 % service tax on pending payment. But flat 90% completeded,So if service tax will be applicable on balance work than how i can give the right data to builder there is any servayor/architect who will give the certificate for the completion of work and same to be given to bulider to save the service tax. Plz tell how i can save my service tax and what is procedure because builder not saying anything and demanding service tax on pending payment not on balance work.
Madhukar N Hiregange
(Expert)
11 July 2010
The budget has imposed ST on payment after 1.7.2010 for properties where the completion certificate is not issued. In my view this levy is illegal and may be disputed/ struck down in course of time.
Madhukar N Hiregange
(Expert)
11 July 2010
The budget has imposed ST on payment after 1.7.2010 for properties where the completion certificate is not issued. In my view this levy is illegal and may be disputed/ struck down in course of time.
This levy also appears to be applicable for single agreement contracts and not for sale of land and construction wherein the same comes under works contract entry.
This levy also appears to be applicable for single agreement contracts and not for sale of land and construction wherein the same comes under works contract entry.
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