Works contract or construction of complex service
This query is : Resolved
10 December 2015
Suppose A is a builder who buys land first and then enters into agreement with potential buyers for construction of Appartments in the said land. He also receives advances for the same. Suppose he is constructing an apartment complex consisting of 10 flats. He issued single invoice to each buyer mentioning the gross amount of the contract (flat price) and WCT. He is also paying vat on the said contracts. the value of the undivided land transferred to each buyer is mentioned in the sale deed executed by the builder and buyer. Now, How the service tax liability on this is calculated? Whther it is WCS or CCS? Please explain by showing a rough calculation
10 December 2015
It is CCS. 14.5% service tax payable on 25% value of flats including land(where the flat cost is less than 1 crore and carpet area is less than 2000 sq feet).
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
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
