Dear All,
Pls give the advice on following 4 questions.
- We are XYZ Constructions , undergoing business of Construction of Residential Apartments registered under Service tax, at what rate we have to collect service tax from Customers 10.3% or 4.12% ?
- Whether we have charge service tax on Construction cost incurred or Collections from customers?
- We started Construction of a Residential Flat project in the year of 2007 and completed in the year of 2011 as per attached circular Service Tax Circular service tax not charges on the revenue earned before 01.07.2010 and taxable from 01.07.2010 advice us on this , shall we go with this concept ?
- If the above concept is followed if the total cost of the project is Rs.100/- based on the percentage of completion work done up to 01.07.2010 is 85% and balance 15% done after 01.07.2010 , so the 15% of the completed portion is taxable ? kindly advice
CAclubindia
