01 January 2013
FIRST ALL I AM DOING JOB IN PARTNERSHIP FIRM. WE BUILT RESI. FLAT & SHOP. OUR ONE PARTNER BOUGHT LAND ON HIS MOTHER IN LAW. ON THIS LAND WE CONSURT FLAT & SHOP. WHICH SERVICE TAX OPTION WILL BE BEST FOR US ? WHETHER WE SHOULD GO ABATEMENT OR WORKS CONTRACT. OUR THIS SCHEME IS STARTED FROM 01/4/2012. EVEN TODAY IS DATE WE HAVE NOT PAID ANY SERVICE TAX. PLEASE GUIDE ME AS SOON AS EARLY POSSIBLE
17 January 2013
The first question is have you sold any flat? If no then no ST is payable. If you have given the contract to a contractor he will be charging ST from you and you are entitled for set off against sale of your flats.
CAclubindia
