Liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 February 2016
I want to know if developers wants to develop any commercial complex without taking any advance from customers who wants to buy. Developers only develop by them selves and by taking loan form banks and others.. So whether they have to registered under service tax act or only vat will apply ??
thanks in advance
thanks in advance
29 February 2016
Construction of Commercial Complex Service is leviable on the "receipt of any sum by the builder from the prospective buyer in respect of the construction of a new building which is intended for sale, wholly or partly, by a builder or any person authorised by the builder before, during or after construction (except in cases for which no sum is received from or on behalf of the prospective buyer by the builder or the person authorised by the builder before grant of completion certificate by the authority competent to issue such certificate under any law for the time being in force) shall be deemed to be service provided by the builder to the buyer”
Accordingly liability to service tax arises only if any sum is received before the issuance of completion certificate by the competent authority. From you query it appears that no such sums were received. Hence there will be no liability service tax, nor any requirement to register oneself with the Central Excise Authorities.
Accordingly liability to service tax arises only if any sum is received before the issuance of completion certificate by the competent authority. From you query it appears that no such sums were received. Hence there will be no liability service tax, nor any requirement to register oneself with the Central Excise Authorities.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 February 2016
Thank you Sir for your kind help
29 February 2016
You are most welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
