Taxability of flat sold after obtaining completion
This query is : Resolved
30 November 2013
What would be the tax liability status,
while,
some flats are lying unsold & completion certificate has been obtained by the builder. Will these flats, as & when sold, attract service tax as the deptt. audit team has raised this objection in one case.
Their contention is that the phrase;" any consideration received before obtaining completion certificate will render service taxable", stands for whole of the project & not to every single flat/unit in isolation.
while,
some flats are lying unsold & completion certificate has been obtained by the builder. Will these flats, as & when sold, attract service tax as the deptt. audit team has raised this objection in one case.
Their contention is that the phrase;" any consideration received before obtaining completion certificate will render service taxable", stands for whole of the project & not to every single flat/unit in isolation.
30 November 2013
If flats sold before obtaining cc then service tax chargeable else its a case of sale.
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