CLARIFICATION OF SERRVICE TAX APPLICABLE FOR CONSTRUCTION AGREEMENT

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  1. BHOOPATHIRAJ

    BHOOPATHIRAJ New Member

    Dear Sir

    I am a native of Coimbatore, Tamilnadu and i have booked individual house through one of the Builder having their office and Regd office in Coimbatore. and the details of house are as follows

    LAND AREA: 3391 SQ.FT
    CONSTRUCTION AREA: 2909 SQ FT
    LAND COST: 50,86,500-00
    CONSTRUCTION AGREEMENT AND COST: 118,98,500-00
    kINDLY LET ME KNOW THE SERVICE TAX APPLICABLE FOR THE CONSTRUCTION AGREEMENT FOR THE ABOVE. THEY ARE DEMANDING 6 PERCENTAGE OF SERVICE TAX FOR THE ENTIRE CONSTRUCTION COST OF 1,18,98,500-00 and their DEMAND VALUE COMES
    RS. 7,13,910.

    PLEASE LET ME KNOW THE ABOVE TAX STRUCTURE IS CORRECT OR NOT . IF NOT WHAT WILL BE EXACT RATE OF PERCENTAGE APPLICABLE FOR THE CONSTRUCTION AGREEMENT FOR MY CASE

    REGARDS
    C.BHOOPATHIRAJ
     
  2. Shivangi Garg

    Shivangi Garg Member

    Sir, is this an agreement for construction of single residential house for self use??
     
  3. BHOOPATHIRAJ

    BHOOPATHIRAJ New Member

    THIS IS A GATED COMMUNITY HOUSING OF 34 INDIVIDUAL VILLAS AND HAVING FOR GROUND AND IST FLOOR AND FOR SELF USE
     
  4. Shivangi Garg

    Shivangi Garg Member

    sir, they are charging service tax considering it a work contact service @6%.
    plz tell them to check applicability of "service tax on construction of residential complex" which is more applicable in ur case and rate of tax is 4.5%.
     
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