28 December 2012
kindly some one guide me about the recent implication of Service tax on "Construction of Residential Complex" and recent notification implication about Cenvat Credit. Eg:one of my client is Builder and they are constructing residential complex, they charge service tax to their buyer at 25% say cheque recd Rs.1000000 they collected service tax Rs.30900.They pay labour charges on which service tax Rs.24720. what would be liability Rs.6180 (30900-24720) or Rs.30900 will cenvat credit will be allowed????? and any other credit can be taken with notification
28 December 2012
AS per Notification no 26/2012-ST dated 20.06.2012 CENVAT Credit of input services and capital goods shall be available. Hence , cenvat available.
28 December 2012
can we claim abatement of 75% in value of constructed complex plus cenvat credit both at same time when we are calculating our liability????????????
CAclubindia
