Recent amendment in construction of industrial complex ser
This query is : Resolved
Manali Agrawal
(Querist)
26 June 2012
Dear sir,
AS notification no.1/2006 has been withdrawn hence as per new abatement notification which only deals when land amount is added in bill but if billed amount exclude service tax then what will be new abatement for that, plz reply soon.
AS notification no.1/2006 has been withdrawn hence as per new abatement notification which only deals when land amount is added in bill but if billed amount exclude service tax then what will be new abatement for that, plz reply soon.
CA CS Amit S. Kedia
(Expert)
26 June 2012
At present, Abatement notified on construction of complex service is 75%.
CA CS Amit S. Kedia
(Expert)
26 June 2012
The new abatement will be 75% only if the value of land is included in the amount charged from the service receiver and CENVAT credit on inputs used for providing the taxable service has not been taken under the provisions of the CENVAT Credit Rules, 2004.
Manali Agrawal
(Querist)
26 June 2012
thats ok sir but what that person do who is providing construction service and didnt add land amount in the bill as his customer itself providing him the land.
CA CS Amit S. Kedia
(Expert)
26 June 2012
Since the list of abatements is the exhaustive list, if the two conditions are not satisfied then there will not be any abatement.
it is better to charge the value of land in the bill and collect the amount of land from customer for claiming abatement.
The amount of land can be repaid to the customer.
it is better to charge the value of land in the bill and collect the amount of land from customer for claiming abatement.
The amount of land can be repaid to the customer.
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