12 May 2013
Kindly note that the Government has issued a new notification viz. Notification no. 09/2013–ST dated 08.05.2013 amending the earlier Notification No.02/2013-ST dated 01.03.2013 In terms of the said notification, entry 12 of notification no.26/2012-ST dated 20.06.2012 as amended by Notification No.02/2013-ST dated 01.03.2013, is further amended as below:
Particulars Taxable Value For residential units with carpet area of less than 2000 sq. feet AND the amount charged is less than Rupees one crore 25% For any other construction 30%
Thus, only if the residential unit area is less than 2000 sq.ft. & the amount charged is also less than Rs. 1 Crore, then abatement of 75% is available. For all other cases, the abatement is 70%. (Other conditions regarding inclusion of land value and non-allowability of CENVAT on inputs remain unchanged)
The above Notification no. 09/2013–ST is effective from the date of the notification i.e. 8th May, 2013
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