Service tax on sale of flats

sanju (Accountant) (348 Points)

04 October 2012  

Dear Experts,

 

ours is a partner ship firm , construction and sale of residential flats is our business. 

in this F.y we received advances against sale of flats. we need to pay service tax on that advances.

 

can any body please tell me what is the rate of service tax  on construction  and sale of flats.

i heard that on  33% of sale consideration we need to pay 12% of service tax. is it true. please answere me. 

thanks in advance....