Service tax on sale of flat in under construction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2013 Kindly confirm how to collect the service tax i.e at what rate from customer who has booked a flat in under construction project under different situation

1) Agreement register before 01.04.2012 but flat cost is partly collected before 01.04.2012 & partly after 01.04.2012

2) Agreement register after 01.04.2012 but flat cost is partly collected before 01.04.2012 & partly after 01.04.2012

and also confirm if there is any notification on the same

PAWAN KUMAR

PAWAN KUMAR (Expert)
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14 March 2013 For Query 1 - Where payment made and registration done before 01.04.2012, The point of taxable is to be date of payment or date of registration whichever is earlier and the rate is to be charged @ 10.30%.

For Query 2 - Where payment made partially before 01.04.2012 but registration done after 01.04.2012, in this case the point of taxation is to be date of registration and the rate is to be charged at 12.36%.

The detailed situation has been provided under Point of Taxation Rules, 2011. (Notification No. 18/2011-ST dt. 01.03.2011.