Service tax on underconstruction building
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2014
As per the new rules, Service Tax will be calculated at the rate of 12.36 percent of the gross value of the property. But, because there is a Government abatement of 75 percent (increased from 67 percent), tax will be levied only on 25 percent of the gross value of the property. The effective rate of service tax is therefore 2.575 percent.
Can anybody elaborate me,my house amount gross value=1651000/- what is my service tax amount with calculation
Can anybody elaborate me,my house amount gross value=1651000/- what is my service tax amount with calculation
02 January 2014
16,51,000* 25% *12.36% = service tax amount.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2014
Dear expert,....What is the meaning of Gross Value of property ?
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