Bunglow at malad..
This query is : Resolved
15 December 2012
We hav a bunglow at Malad.. we want to redevelop that bunglow in ground + 3..
only for our family not for sale...
Total cost is say Rs.50,00,000/-
how much service tax and VAT will be charged by the builder????
he is a proprietor...
only for our family not for sale...
Total cost is say Rs.50,00,000/-
how much service tax and VAT will be charged by the builder????
he is a proprietor...
15 December 2012
Hi
If the ultimate owner enters into a contract for construction of a residential complex with a promoter/builder/developer, who himself provides service of design, planning and construction; and after such construction the ultimate owner receives such property for his personal use, then such activity would not be subjected to service tax, because this case would fall under the exclusion provided in the definition of ‘residential complex.
Thanks//Vaibhav
If the ultimate owner enters into a contract for construction of a residential complex with a promoter/builder/developer, who himself provides service of design, planning and construction; and after such construction the ultimate owner receives such property for his personal use, then such activity would not be subjected to service tax, because this case would fall under the exclusion provided in the definition of ‘residential complex.
Thanks//Vaibhav
15 December 2012
VAT liability arises on the material consumed+ builder's profit on it,at appropriate rates. To get the material value : Total payments made-30% towards labour.....mjk
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