Service Tax on Under Construction Flat
This query is : Resolved
Ashish Gupta
(Querist)
14 September 2010
Hi
I have booked and Paid 95% amount of the flat in Nov 2009 and Builder is asking for Service Tax on Balance 5% Payment and offered Possesion in Sep 2010.
please let me know the exact ruling of servcie tax on this.
I have booked and Paid 95% amount of the flat in Nov 2009 and Builder is asking for Service Tax on Balance 5% Payment and offered Possesion in Sep 2010.
please let me know the exact ruling of servcie tax on this.
14 September 2010
Go through the below link, you will have your answer.
Before completion certificate, the construction will be deemed to be in progress, accordingly any payment made after 1/7/10, will attract service tax.
https://www.simpletaxindia.org/2010/07/service-tax-on-construction-service-wef.html
Before completion certificate, the construction will be deemed to be in progress, accordingly any payment made after 1/7/10, will attract service tax.
https://www.simpletaxindia.org/2010/07/service-tax-on-construction-service-wef.html
14 September 2010
Even the word "after" the completion certificate has been inserted by finance act,2010. That means any payment for service by builder before actual sale, will be deemed as service & accordingly liable to service tax.
14 September 2010
Also, if the cost of house is less than 20 lacs, there is no service tax.
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