I have booked a flat in Pant Nagar in 21st Apr 2010 and total cost of Flat is Rs 1613000 and i have paid 243000 as 15% of total cost to proceed home loan. Now there is confusion for remaining payment which i will give after disbusement from bank as loan to builder in July'2010,So question is i will pay service tax or not on pending payment which i will pay in july'2010 and i have booked flat in Apr'2010.Flat yet not completed. Plz reply
05 July 2010
Dear Sudhakar if your flat is not completed on or before 30th june 2010 then service tax will be applicable for you. however suppose if completion of work is 25% then you will be eligible for service tax is only on 75% of your flat cost. So service tax is applicable on balance work of your flat not on balance payment.
09 July 2010
Sir Builder demanding flat 2.5 % service tax on pending payment. But flat 90% completeded,So if service tax will be applicable on balance work than how i can give the right data to builder there is any servayor/architect who will give the certificate for the completion of work and same to be given to bulider to save the service tax. Plz tell how i can save my service tax and what is procedure because builder not saying anything and demanding service tax on pending payment not on balance work.
CAclubindia
