Latest Changes in Service Tax on Residential Property

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  1. v s sairam

    v s sairam New Member

    Sir

    Please tell me how to calculate service tax on residential complex with latest changes.

    sairam
     
  2. ZED

    ZED Well-Known Member

    Its [14% as the base rate of ST+ 0.5% on account of swach Bharat cess + 0.5 on account of Krishi Kalyan cess] = 15%
    As per Exemption Notification No. 26/2012 , the exemption is available for 70% of S.T

    Therefore , effective rate of ST = 15% X 30% =4.50%
     
  3. Karan Batra

    Karan Batra Well-Known Member

  4. Clement Elango

    Clement Elango New Member

    Thankyou.
    Very useful information.
    Is there any change in computing the service tax for a ready built house/flat?
     
  5. ZED

    ZED Well-Known Member

    No, it still remains outside the purview of chargeability of ST , provided no consideration was received prior to the receipt of completion certificate.
     
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