We are a welfare society of 250 members registered under AP society act 2001. We are making residential apartment complex and member are getting a flat. We are are awarding a contract to builder to make it for us. I would like to know if builder or society is liable to pay service tax or VAT (any other tax) for this contract ? If yes, what would be the value (%)of this tax ? I would appreciate if answer points to exact link to notification/law. Does welfare society get any advantage of tax in this case ?
Thank you.
CAclubindia
