SERVICE TAX FOR THE OWNERS IN JV

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  1. GANESH MAHALINGAM

    GANESH MAHALINGAM New Member

    Sir,
    We have given our plot / land to developer for construction of flats on joint venture basis. There are some portion has been identified as developer and some portions are kept with us. This property is located in the suburban of Chennai. As per the prevailing rules of Chennai, I would like to know whether owners will fall under the service tax or not. Kindly inform me about the same in both the conditions i.e.1. keeping the flat for personal use and 2. Sale of the property to X person...
    Secondly, the service tax amount is to be paid to the developer... If so on what circumstances...on production os service tax invoice by the builder ...How to proceed in case if it is to be paid by the owner to the builder..What is the procedure to be adopted..
    What is the percentage rate of service tax to be paid on what basis as standard....
    Pls reply with specific clauses and rule numbers as mentioned in the service tax rules by the Tamil nadu government..

    Is there any sales tax is also to be paid by the owners in the same situations.. and if so at what percentage... pls do clarify..

    Regards

    GANESH. M
     
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