Audit Manager
176 Points
Joined September 2013
Hi,
Builders liable for service tax at 12.36% of the 30% of the total taxable value in the case construction of commercial complexes and in the case of residential complexes having carpet area is less than 2000 sq ft and value of single unit is less than 1 C, then 12.36% of 25% of total amount. Residential complexes other than above is taxed at 12.36% of the 30% of the total value.CENVAT credit on input services only we can take in this case and reverse charges also are applicable if any sub contracts(works contracts). Regards