Service tax on Under construction flat sold
This query is : Resolved
23 May 2011
Dear Sir / Madam,
I have bought an Under Construction flat and want to sell it to Individual third party. Flat is still in under construction.
Now what would be the service tax liability and who would have to bear it as agreement has been executed keeping the developer as confirming party?
Thanking you
I have bought an Under Construction flat and want to sell it to Individual third party. Flat is still in under construction.
Now what would be the service tax liability and who would have to bear it as agreement has been executed keeping the developer as confirming party?
Thanking you
Guest
Guest
(Expert)
24 May 2011
Service tax being an indirect tax is paid by the developer but burden is borne by the buyer. whatever tax is paid till date is your cost and any tax paid susequent to sale will be borne by the buyer.
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