01 July 2010
Request you to please advice whether service tax is applicable on flats booked before 1st July, 2010. Currently there is confusion, some people says;
1. Service tax is applicable on the entire amount/cost of flat if the construction is not completed before 1st July,2010 2. Service tax is applicable only on under construction flats booked on or after 1st July, 2010 and therefore it is not applicable on the flats booked on or before 30th June, 2010. 3. Service tax is applicable only on the installments paid on or after 1st July, 2010 by buyers to the builders for under construction flat irrespective of the booking date of the flat. 4. Is service tax applicable on Parking lots, open parking taken on lease for 999 years?
CAclubindia
