construction contract

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2011 please can any one send me details for construction contract service tax calculation for example

land cost 286300
construction cost 926560
development charges 122100
car parking 150000
registration expenses 30524
service tax 40754

total 1556238

but payment received from customer

on the basic of work completed

march 200000
april 145442
may 352444
june 415211

than how we will calculate the tax

please explain me

Regards
S.Thiyagarajan

ADITYA

ADITYA (Expert)
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22 May 2011 Your query is not clear ?

It is presumed that you have constructed house for your customer on your customer's land. or it is a deal lump-sum i.e. land with construction as per client's specification.

Cost of land does not attract Service Tax as it is immovable property. It will attract Stamp Duty while doing Registration.
However, Construction cost will attract Service TAx .

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2011 thanks for your reply sir. not on my customer land its like flat promoters so how will i calculate service tax on received amount. please tel me there is any calculation for that.in the total amount receivable we will calculate the service tax payable value but on the basics of received amount how will calculate service tax explain me please.