Service tax on payments to builder made post OC

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  1. DeepakH

    DeepakH New Member

    Hi

    Like your opinion. if our payment terms with the builder are 50% at booking and 50% on possession post OC. while I know ST is payable on the initial 50%
    Question 1: What happens to the payment made post receipt of OC. will it attract ST
    Question 2: Also what happens if agreement is done post OC and 1st payment is made towards a allotment letter

    please advice.
     
  2. ZED

    ZED Well-Known Member

    Yes entire amount attracts ST, because the entire amount was not paid after receiving of completion certificate.


    I will see the date of completion certificate , which is received prior to the issuance of OC.
    If no payment is made prior to the receipt of CC, then only the transaction will be out of purview ST.
     
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