There is a case where Builder has asked the assessee to pay service tax on the consideration amount of the flat. The registration was made in February,2010. The possession is received in August,2011.
So, plz guide whether Service Tax is payable as per the amendment w.e.f. 1st April,2010. If yes, then at what rate ?
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Service tax query
Replies (1)
If it is sale of immovable property and any amount has been paid to developer prior to completion , service tax is payable. Also, if it is construction agreement , service tax is payable. Rate depends on scheme opted by developer. Might be 4.12 % of whole amount or 10.3% value of service ie. labour.
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