I WANT TO KNOW THAT ON WHICH CRITIRIA BUILDING CONSTRUCTION WILL BE TAXED. IN OTHER WORDS THEY ARE LIABLE TO COLLECT SERVICE TAX OR VALUE ADDED TAX .........
PLZ BE NEEDFUL
Replied 05 June 2012
u need to pay both service tax & vat on construcrucion of building (except the residencial building construction for not more than 12).
u can pay service tax by taking abatement of 67% & pay 12.36% service tax on balance 33%.but no cenvat cr is available on input service tax
& again vat is separate for state to state ,c that in some of state u can avail 30% abate ment is service part & u can pay 4.12% on balance 70%,& that to u can avail input credit on material purchased.
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