04 May 2014
Yes,you are liable to service tax.As per the new definition of residential complex given in Notification no.26/2012 dated 20.06.2012 as per clause 2(zc) residential complex means complex comprising of building having more than one residential house.
05 May 2014
Thanks for info Annu Agarwal, but one of my friend told me that if the residential complex contains less than 12 units i am not liable to collect service tax. Please clarify
06 May 2014
rate shall be12.36%.There is a abatement of 75% in case flats build are of carpet area upto 2000sq feet and less than 1 crore worth.So service tax shall be 3.09%,in other cases it shll be 12.36%30%=3.708%. Notification No.2/2013 dated 28.02.2013
06 May 2014
I am constructing this residential complex on my own land and i want to know on which value should i collect service tax
Land Value+Construction cost (or) only on the construction cost. if possible please explain this with an example which will be easier for me to understand
CAclubindia
