Service tax on under construction of property
This query is : Resolved
19 June 2013
Please guide me on the following matter
I had booked office premises in under constructed property. I was regularly paid their installment as and when due. In addition to this he is charging Service Tax also calculated on my installment amount and this also paid.
Now I sold this office to other person. The property is not registered till date so now the procedure is to cancel and return back to Builder and he will allot this property to the other person. Now he is charging from the other person total amount along with service tax again. As he is already collected service tax from me, why he is charging again from that other person.
Please guide with proper Law.
I had booked office premises in under constructed property. I was regularly paid their installment as and when due. In addition to this he is charging Service Tax also calculated on my installment amount and this also paid.
Now I sold this office to other person. The property is not registered till date so now the procedure is to cancel and return back to Builder and he will allot this property to the other person. Now he is charging from the other person total amount along with service tax again. As he is already collected service tax from me, why he is charging again from that other person.
Please guide with proper Law.
20 June 2013
As per the Rule 6(3) of the Service tax rules 1994, the service provider(in your case Builder)can take the credit of service tax paid on your services which is cancelled.
for the other party to whom he sold the building he has to charge.
for the other party to whom he sold the building he has to charge.
Message likes :
1 times
21 June 2013
Thanks o Lot
One more point, whether He(the Builder)can set of this credit against his current liabilities of service tax or he has to claim refund??
Please guide on the matter with proper section
One more point, whether He(the Builder)can set of this credit against his current liabilities of service tax or he has to claim refund??
Please guide on the matter with proper section
21 June 2013
The Builder can claim set of this credit with current Service tax liability as per the Rule 6 (3) of the Service tax rules, 1994
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Value of property in capital gain
- SFT Cash Deposit in Current Account
- Copyright software
- Multiple trade mark
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY....../
- Transporter Declaration form
- E-Invoice applicability for new Startup
- Filing of MSME 1 form by companies
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
