Service tax on flat


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Querist : Anonymous

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Querist : Anonymous (Querist)
25 September 2015 Dear experts,
one of our customer has booked the flat under construction, the total flat worth is 70 lacs, at the time of booking agreement he has given RS. 10 advance and rs 60 lacs is remaining balance. plz tell me as i received rs 10 lacs as advacne. weather ST will be paid on only 10 lacs or on total 70 lacs, at this time,

thanx & regard
Sahil

25 September 2015 You have to pay tax on Rs.10 lacs and not on whole amount.

Refer Rule 3 Point of Taxation Rukles 2011



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