Service tax on property

Share
Share This Thread
  1. AAP

    AAP New Member

    Sir,
    I have booked a flat by giving token amount of Rs. 1 Lac. It will be ready in May 2015. I wish to make agreement registered , by paying stamp duty , after the developer gets occupation certificte ( somewhere in June -July 2015). Whether the service tax is applicable.
    Please guide.
    Thanks and regards,
    AAP
     
  2. Neha Sharma

    Neha Sharma Active Member

    Yes, Service tax would be applicable...
     
  3. AAP

    AAP New Member

    Thanks a lot Mam'.
    Sorry for bothering you but please guide on the following issue:
    It is now clear that the service tax is applicable even on payment of small amount before completion of project, as one enters into a contract with the builder. Now about the value on which service tax is payble:-
    1} on entire contact/agreement value
    2} on the payment made before completion OR
    3} on the amount of remaining work after entering into contract:
    Suppose I enter into a contract when the 60% work of a project is completed. Whether service tax is payable on the 40% of agreement value ?
    Please... Please guide.
    Thanks and regards,
    AAP
     
  4. Neha Sharma

    Neha Sharma Active Member

  5. AAP

    AAP New Member

    Thank you once again, Mam'
    This query was based on the recent notification published by the Government of Maharashtra, whereby it has been clarified that the VAT is payble on the pecentage of amount , calculated on completed work at the point of time the buyer enters into a contract. (please refer to www.mahavat.gov.in -Act & Rules-notification-MVAT Act 2002-Serial No.8)
    Anyways thanks for romoving doubts regarding Service Tax.
    Regards,
    AAP
     
  6. Hitesh Arora

    Hitesh Arora New Member

    Dear sir
    I am a non service tax or vat registered builder, i am doing it in individual name , so if i sell my floor before issuance of authorised completion certificate will i be liable to pay service tax to the authority , if yes then how.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Service Tax on Movable Property Service Tax Apr 19, 2017
Service tax on Renting of Immovable property Service Tax Mar 20, 2017
Service Tax on Under Construction Property Service Tax Mar 20, 2017
Service Tax on Under construction property Service Tax Feb 13, 2017
Service Tax Paid on Under-construction Property Service Tax Nov 25, 2016