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Joint development agreements
If Assessee has entered into Joint Development Agreement before levy of service tax (2008) and he transferred development rights to the builder. Now due to some issues construction stopped and continued after some time, got completed in 2015. Now the landowner got the constructed flats 4 out of 10 from the developer. Tell me Whether the service tax is applicable? if so, point of taxation and the value on which service tax to be payable and by whom? Assume there is no clause in the aggrement about payment of taxes, landlord is liable to pay anything for taxes?
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| Originally posted by : Geshman | ||
 |
If Assessee has entered into Joint Development Agreement before levy of service tax (2008) and he transferred development rights to the builder. Now due to some issues construction stopped and continued after some time, got completed in 2015. Now the landowner got the constructed flats 4 out of 10 from the developer. Tell me Whether the service tax is applicable? if so, point of taxation and the value on which service tax to be payable and by whom? Assume there is no clause in the aggrement about payment of taxes, landlord is liable to pay anything for taxes? |  |
Yes ST would be applicable.
POT = Generally , on payment. (but here many details required which are not present in query)
value on which service tax to be payable = 40% of GROSS AMOUNT CHARGED
and by whom = SP : SR =50:50
If there is no clause for payment no ultimately all ST would be born by SR as its a indirect tax.
Partial
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Karanjit Singh | +91-7503588224
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