Valuation of taxable service for builders
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2016
Value of taxable service for builders
Example - Total receipt from flat owners Rs. 1650000/- so taxable value for Service tax is Rs. 412500 (1650000/-*25/100) assuming all flat less 2000 sg.ft. & below Rs.1cr.
In this case of builder can get basic exception of Rs. 10Lakh?
If so there is no service tax liabilities for during the year .?
Example - Total receipt from flat owners Rs. 1650000/- so taxable value for Service tax is Rs. 412500 (1650000/-*25/100) assuming all flat less 2000 sg.ft. & below Rs.1cr.
In this case of builder can get basic exception of Rs. 10Lakh?
If so there is no service tax liabilities for during the year .?
18 March 2016
Do not take benefit of small scale .. u may face poblem in CENVAT credit
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