Please advice whether service tax is liable on advances received after 01.07.2010 in case of constructon of residential complex ?
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Service Tax on Advances in case of Builders
Replies (5)
Yes, service tax is to be paid on advance received after 1.07.2010.
Please refer notification no 36/2010 dated 28th June 2010 corrected vide corrigendum dated 29th July, 2010.
Residential construction activity could be classified depending on the agreement under worsk contract or under resideintial complex service.
Once liability / coverage confirmed then the ST is attacrted on advances also as the defintion includes services tobe provided.
Hi.......... Rupesh
Service Tax shall be paid on advance received against residential compex and this service shall be classified under Complex Construction service as per the Provisions of Section 65A of the Finance Act, 1994.
Thanks
Lalit
Residential construction activity could be classified depending on the agreement under worsk contract or under resideintial complex service.
Once liability / coverage confirmed then the ST is attacrted on advances also as the defintion includes services tobe provided.
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