A builder has developed a multi storey building consisting of 12 residential flats. He has sold a few in pre-construction stage and others post completion.Can he or should he charge service tax on sale price of flats sold post completion? Is service tax leviable on post completion flats, in case some of the flats in the same complex were sold in pre construction period?
Read more at: /experts/modify_message.asp?entry_id=895134
Menu
Service tax on residential flats
Replies (1)
Once the builder obtains completion certificate from appropriate authority, the service element in construction of flats is completed. Any sale after such act, provided, no consideration was received by builder during construction period towards flat, will purely be sale. No service tax can be levied. It will sale of immovable property.
Recent Topics :
- Wrong date of invoice
- Paper 6 - IBS
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
Related Topics :
CAclubindia
