A builder developing a building on a land provided by land owner. The land owner transferred land to builders for a consideration of 7 crore plus 45% share in flats which r to be developed by builders.what would be the applicability of service tax in this case?can builder avail the option under notification no.26/2012 in this case?and what would be the value on which service tax is payable?
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Service tax on construction industry
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Since, the consideration is received for transfer of land, the same will not be covered under the service tax as it is specifically excluded from the definition of service tax.
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